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Buy Trent: Target Of Rs 800: Sharekhan

Sharekhan is bullish on Trent recommended buy rating on the stock with a target price of Rs 800 in its research report dated November 09, 2020.

Nov 11, 2020 / 11:27 AM IST
 
 
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Sharekhan's research repor on Trent


Q2 revenues recovered 55% as all stores became fully operational after easing of lockdowns. Recovery rate improved from 38% in July to ~70% in October. Company prioritised cost cuts by slashing employee expenses, discretionary spends and renegotiating rentals. This is likely to sustain and support profitability to some extent in the near term. As 100% of Westside merchandise being manufactured in-house, we expect Trent would bounce back faster. Product innovation, aggressive store expansions and leveraging digital presence will be near-term growth drivers.


Outlook


We recommend a Buy on Trent with a price target (PT) of Rs. 800. Trent is among India’s strong branded retail players with robust balance sheet, stable cash flows and among the highest utilisation rates per store.


For all recommendations report, click here


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first published: Nov 11, 2020 11:27 am

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