Goldman Sachs raises target for Trent stock to INR 3,010

Published on 10/12/2026 at 10:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 23.00 percent to INR 57.88 billion on October 5. For Trent stock, the network totaled 1,342 stores on September 30, 2026.

Goldman Sachs raised its Trent target from INR 2,960 to INR 3,010 on October 6, 2026.
Trent reported 23.00 percent year-over-year revenue growth to INR 57.88 billion in the second quarter of fiscal 2026-27.
The retail portfolio reached 1,342 stores by September 30, 2026, including Zudio's 1,000th store.
Trent is listed on the NSE and is a NIFTY 50 member.

Trent, INE849A01020, Illustration mit AI erstellt.

Goldman Sachs raised its Trent stock target from INR 2,960 to INR 3,010 on October 6, 2026, while keeping a Neutral rating, according to NDTV Profit. The revision followed Trent's second-quarter business update, which showed sharp revenue growth but continuing margin and store-productivity questions.

Targets split after Q2 growth

Trent reported standalone revenue of INR 57.88 billion in the second quarter of fiscal 2026-27, up 23.00 percent year over year from INR 47.24 billion, according to CNBC TV18 on October 5, 2026. Revenue for the first half of fiscal 2026-27 reached INR 114.54 billion, up 21.00 percent from INR 95.09 billion in the comparable period.

The result created a clear split among brokerages. NDTV Profit reported that Morgan Stanley maintained an Overweight rating with an INR 3,406 target, while Citi retained a Sell rating with an INR 2,950 target. Citi also cited an 8.40 percent year-over-year decline in average revenue per square foot.

What does 23 percent growth mean?

The operating footprint explains why revenue remains the central measure for Trent. The company added 10 Westside stores and 17 Zudio stores during the second quarter, taking its portfolio to 1,342 stores as of September 30, 2026, according to CNBC TV18. The expansion includes Zudio's 1,000th store, a milestone disclosed on September 11, 2026, by ScanX.

Three dated Trent milestones

On September 11, 2026, Zudio crossed 1,000 stores, according to ScanX. On October 5, 2026, Trent reported second-quarter revenue of INR 57.88 billion, up 23.00 percent year over year, according to CNBC TV18. On October 6, 2026, Goldman Sachs raised its target to INR 3,010 from INR 2,960, as reported by NDTV Profit.

Next results date is October 29

Trent's next scheduled financial-results date is October 29, 2026, according to the NSE event calendar. The NSE also classifies Trent as a Specialty Retail company and lists it in the NIFTY 50. As of October 9, 2026, the exchange showed a market capitalization of INR 155.6 billion and a 52-week range of INR 2,183.67 to INR 3,399.70.

Growth meets valuation pressure

The numbers point to a two-sided setup in the published research: revenue growth accelerated to 23.00 percent, while average revenue per square foot declined 8.40 percent. That contrast explains the wide target spread from INR 2,950 at Citi to INR 3,406 at Morgan Stanley and places execution, store productivity and costs alongside expansion in the next results discussion.

Market context: Market report NIFTY 50.