Team Blitz India
NEW DELHI: Global investment banking and brokerage firm Goldman Sachs has initiated coverage on Rakesh Jhunjhunwala-backedMetro Brandsover high growth prospects driven by the Sports & Athleisure (S&A) category business and key structural trends such as premiumisation. “We believe Metro Brands is better positioned with respect to key structural trends like premiumisation 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 Rs 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 Rs 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
