Shares of Trent Ltd fell for the third consecutive session on Thursday, declining 2.5 percent after global brokerage Goldman Sachs downgraded the stock and slashed its price target.
With Thursday’s drop, the stock has lost nearly 3 percent over the past three trading sessions.
According to a CNBC-TV18 report, Goldman Sachs downgraded Trent to ‘neutral’ from ‘buy’ and reduced its target price to Rs 5,500 per share from Rs 6,970 earlier—a cut of 21 percent.
The brokerage noted that while Trent’s value fashion brand Zudio continues to grow faster than the broader apparel market, the pace of market share gains may be slower than previously anticipated.
Trent, which operates Westside and Zudio stores, had earlier reported a 20 percent year-on-year rise in revenue for the quarter ended June in its business update. Revenue stood at Rs 5,061 crore, compared with Rs 4,228 crore in the same quarter last year.
As of June 30, 2025, Trent’s store network comprised 248 Westside outlets, 766 Zudio stores—including two in the UAE—and 29 stores under other lifestyle formats. During the quarter, the company opened one Westside and 11 Zudio stores, while consolidating one Westside and 10 Zudio stores.
Shares of Trent quoted at Rs 5,202.5 per share on the NSE, down 2.92 percent.
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