Goldman Sachs initiates coverage on Metro Brands, sees 28% upside in 12 months; Bata India at ‘neutral’—here's why
Metro Brands over high growth prospects driven by the Sports & Athleisure (S&A) category business and key structural trends such as premiumization. ‘’We believe Metro Brands is better positioned with respect to key structural trends like premiumization and rising S&A penetration,'' said Goldman Sachs in its report.
The global brokerage has given a ‘buy’ rating for Metro Brands and sees an upside of 28 per cent on the stock in the next 12 month at a target price (TP) of ₹1,450. Goldman Sachs has also initiated coverage on Bata India with a ‘neutral’ rating as sees a seven per cent upside on the stock at a TP of ₹1,470.
‘’Bata India’s new initiatives towards portfolio premiumization, increase in marketing spends etc. have not managed to revive growth yet (9MFY24 revenue growth vs pre-Covid at ~10 per cent vs ~80 per cent for Metro Brands),'' it added.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.Milestone Alert!
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