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Buy Shoppers Stop; target of Rs 940: ICICI Direct

ICICI Direct is bullish on Shoppers Stop recommended buy rating on the stock with a target price of Rs 940 in its research report dated October 20, 2022.

October 25, 2022 / 01:38 PM IST
 
 
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ICICI Direct's research report on Shoppers Stop

Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changes with focus on enhancing its share of private label brands and beauty portfolio, accelerating growth through digital channels and providing better shopping experience through ‘personal shoppers’. • Operates 91 departmental stores, 171 beauty format stores across 4.2 million sq ft and present in 47 cities.

Outlook

With the new management team in place, we expect SSL to revive its revenue trajectory and margin profile. Despite recent run up, reasonable valuations prompt us to remain positive on the stock and maintain BUY. We value SSL at Rs 940 i.e. 14x FY24E EV/EBITDA.

For all recommendations report, click here

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Shoppers Stop - 211022 - icici

Broker Research
first published: Oct 25, 2022 01:38 pm

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