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Buy Shoppers Stop; target of Rs 400: ICICI Direct

ICICI Direct is bullish on Shoppers Stop has recommended buy rating on the stock with a target price of Rs 400 in its research report dated October 21, 2021.

October 22, 2021 / 04:46 PM IST
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ICICI Direct's research report on Shoppers Stop


Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changes with focus on enhancing its share of private label brands and beauty portfolio, accelerating growth through digital channels and providing better shopping experience through ‘personal shoppers’ Operates 80 departmental stores and 160 beauty format stores spread across 4.0 million sq ft and present in 47 cities


Outlook


With the new management team in place, we expect SSL to revive its revenue trajectory and margin profile. Reasonable valuations prompt us to be positive on the stock and maintain BUY We value SSL at Rs 400 i.e. 8.5x FY23E EV/EBITDA


For all recommendations report, click here

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first published: Oct 22, 2021 04:46 pm

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