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Buy Trent; target of Rs 1730: ICICI Direct

ICICI Direct is bullish on Trent recommended buy rating on the stock with a target price of Rs 1730 in its research report dated November 11, 2022.

November 17, 2022 / 10:45 PM IST
 
 
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ICICI Direct's research report on Trent


Trent is India’s leading retailer with a presence across various consumer categories (550+ stores). Inherent strength of brands (Westside, Zudio, Star, Zara) and accelerated store additions have led Trent to be among the fastest growing companies in our retail coverage universe. Westside’ (70% of revenues) has proven to be one of the most profitable business models as it primarily focuses on selling private label brands (EBITDA margin: 11%, consistent SSSG: 10%+) • The next leg of growth for Trent continues to be from ‘Zudio’ (30% of sales), the value fashion brand, (revenue CAGR: 72% in FY19-22).


Outlook


Robust performance during challenging times and industry leading performance will continue to warrant premium valuations for Trent. Hence, we maintain our BUY rating on the stock. We value Trent at Rs 1730 based on SOTP valuation.


For all recommendations report, click here


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Trent - 14 -11-2022 - icici

Broker Research
first published: Nov 17, 2022 10:45 pm