Trent‘s share price jumped back into the green after two sessions of losses following a target price hike from a global brokerage.
What Happened: Morgan Stanley maintained its “equal-weight” rating for the Tata Group stock, raising its price target by 31% to ₹4,817 from ₹3,675.
Morgan Stanley noted that Trent is in the early stages of its growth trajectory, and there is still a lot of potential for expansion left. The company is well-positioned to navigate this next phase of growth by effectively leveraging its established platform and various growth engines.
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Analysts added that the company’s return ratios have improved to record levels, a trend driven by enhanced profitability and improved asset turnover. Several other brokerages have also remained positive on the stock after the company posted its earnings for the quarter ended March.
Sharekhan, Motilal Oswal and Axis Securities have a “buy” rating for the stock. Sharekhan and Axis Securities have a price target of ₹4,800, whereas Motilal Oswal sees the Trent share price climbing to ₹4,870.
Price Action: Trent’s share price was up 1.57% to trade at ₹4,688.35 as the markets opened on Wednesday.
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