Bernstein Trims Trent Target To Rs 3,500 On Bonus Issue, Backs Westside's 50-Store-A-Year Sprint
Bernstein keeps Outperform on Trent but cuts its target to Rs 3,500 (from Rs 5,000) post bonus issue. It flags Westside accelerating to ~50 stores/year toward a 500-550 count, with 52 additions in FY26 and >55% gross margins reinforcing the growth thesis versus Zudio's ~40%.
Bernstein cut Trent's target to Rs 3,500 (from Rs 5,000) after a bonus issue while keeping Outperform, citing Westside's accelerated expansion to ~50 stores/year, targeting 500-550 stores, with higher margins reinforcing the investment case.
Why this matters
Bernstein's revised target reflects a technical bonus-issue adjustment rather than a downgrade, with the Westside store-expansion and margin thesis intact against Zudio's lower-margin model.
Retail-company signals accelerating, up 531200% QoQ.