ICICI Securities Recommends 'Hold' on Shoppers Stop, Cuts Target to Rs 350
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Moneycontrol•30-01-2026, 21:07
ICICI Securities Recommends 'Hold' on Shoppers Stop, Cuts Target to Rs 350
- •ICICI Securities maintains a 'Hold' rating on Shoppers Stop (SHOP) with a revised target price of INR 350, down from INR 400.
- •Q3FY26 revenue growth was modest, attributed to festive shift, soft discretionary demand, and high pollution in North India.
- •Management expects growth revival as macros improve, but ICICI Securities remains cautious due to low near-term revenue confidence.
- •Concerns include inability to convert revenue growth into profits, indicating operational inefficiencies.
- •Weak cost control is also a factor, potentially limiting margin improvement and earnings growth.
Why It Matters: ICICI Securities advises 'Hold' on Shoppers Stop, citing modest growth and operational concerns, revising target to Rs 350.
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