Motilal Oswal sees Trent re-rating ahead; reiterates Buy with Rs 3,500 target
Brokerage flags Q4 FY26 growth recovery, easing Zudio cannibalization, and Star's 12-city scale-up runway as triggers. Beauty, Innerwear, and Footwear adjacencies seen powering 21% revenue CAGR over FY26-28E. Valued at 45x FY28E EV/Ebitda for 11% upside.
Motilal Oswal reiterates Buy on Trent with Rs 3,500 target (11% upside), citing Q4 FY26 growth recovery, easing cannibalization, Star scale-up runway, and emerging categories in Beauty, Innerwear, Footwear driving potential re-rating.
Why this matters
Adds to bullish brokerage stance after Morgan Stanley's Overweight at Rs 3,151 and AGM's 5,000-store Zudio runway, even as Noel Tata's chairman exit creates succession overhang.
Retail-company signals steady at 3,611 over 90 days, reflecting sustained sector coverage intensity.