Bernstein cuts Trent target 30% to Rs 3,500 but stays Outperform on Westside's 50-store yearly blueprint
Bernstein slashed Trent's price target to Rs 3,500 from Rs 5,000 (~7% upside) while keeping an Outperform rating, betting on Westside's guidance to add ~50 stores annually toward a 500-550 network. The higher-margin premium format (55%+ gross margin, 40%+ of revenue) is pitched as a second growth engine alongside Zudio, backing ~21% revenue CAGR over 4-5 years.
Bernstein cut Trent's target price 30% to Rs 3,500 but stayed Outperform, citing Westside's guidance to add ~50 stores annually, positioning the higher-margin premium format as a second growth engine alongside Zudio.