Morgan Stanley raises target price for this multibagger Tata Group stock; sees its well placed to navigate next growth phase
Morgan Stanley has maintained its 'equalweight' call on the stock as the brokerage views the company to be well placed to navigate this next phase of growth by leveraging the platform and growth engines.
![Morgan Stanley raises target price for this multibagger Tata Group stock; sees its well placed to navigate next growth phase](https://cdn.zeebiz.com/sites/default/files/2024/05/29/296280-untitled-design-2024-05-27t101238412.png?im=FitAndFill=(1200,900))
Global brokerage, while maintaining its equal weight call on Tata Group’s retail major Trent, has raised the target price to Rs 4,812 from the earlier Rs 3,675. The new target price implies a potential upside of over 4 per cent from the stock’s last trade price of Rs 4,615.95 per share on the BSE.
The stock in the past one year has surged a massive 202 per cent, while its 1-month return is at over 7 per cent.
The brokerage believes the company is in the early rounds of its growth and the potential remains immense. Further, the company housing Westside, Zudio and other similar formats is well placed to navigate this next phase of growth by leveraging the platform and growth engines.
The return ratios at the company also improved to record levels aided by better profitability and improving asset turnover ratio.
Earlier brokerage firm Motilal Oswal continued with its ‘buy’ rating on the stock with a revised target of Rs 4,870, given the company’s strong growth opportunity going forward. In the backdrop of strong revenue growth, aggressive store additions, margin tailwinds from moderating raw material costs, and operating leverage, the brokerages estimated a CAGR of 32%/38% in revenue/PAT over FY24-26. The continued momentum in Star and improving store metrics offer further upside potential.
Star is the company’s modern retailer for fresh food and groceries. The company offers an array of daily essentials, fresh produce, poultry and a host of exclusive TATA brands at great value.
Trent’s Q4FY24 results
TRENT reported strong standalone revenue growth of 53 per cent in 4QFY24, led by 10 per cent like-for-like ( LFL) and 37% YoY store additions. Robust revenue growth, along with GM improvement and operating leverage, resulted in 2.3x/2.4x YoY growth in EBITDA/PAT.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/markets/stocks/photo-gallery-this-tata-group-stock-turned-every-rs-10000-of-investment-into-rs-11300-in-just-a-week-investors-richer-by-42722-crore-rupees-any-guesses-share-market-news-304023](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307143-tradingpexels.jpg?itok=rw4R7EfH)
A Tata group stock just turned every Rs 10,000 of investment into Rs 11,300 in just a week, investors richer by Rs 42,722 crore; any guesses?
![https://www.zeebiz.com/markets/stocks/photo-gallery-large-cap-midcap-stocks-shares-to-buy-for-long-term-check-out-targets-nifty-sensex-303617](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/25/306716-stockks.jpg?itok=KJTrFUIK)
Stocks to buy for long term: Analysts suggest buying these 5 largecap, 4 midcap scrips; check out targets
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-retirement-planning-budget-2024-nirmala-sitharaman-announcement-how-nps-rulebook-change-can-increase-corpus-income-and-monthly-pension-by-40-compound-return-303984](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307102-indian-currency-pixabay-take.jpg?itok=kN21EW-9)
How your NPS retirement corpus and monthly pension can jump by 40% after this rule change; get details
![https://www.zeebiz.com/personal-finance/photo-gallery-senior-citizen-savings-scheme-scss-2024-interest-rate-calculator-post-office-how-to-get-inr-rs-50000-interest-retirement-planning-guaranteed-return-maturity-amount-small-savings-303930](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/07/26/307042-fd-interest-file.jpg?itok=45ZbBRWM)
How much investment do you need in this senior citizen scheme to get Rs 50,000 quarterly interest? Know here
08:59 AM IST