Renowned investment banking and brokerage firm Goldman Sachs has commenced coverage on Metro Brands, backed by investor Rakesh Jhunjhunwala, citing promising growth prospects propelled by the Sports & Athleisure (S&A) category business and significant structural trends like premiumization. Goldman Sachs has issued a ‘buy’ rating for Metro Brands and anticipates a 28% increase in the stock over the next 12 months, setting a target price (TP) of ₹1,450.
Additionally, Goldman Sachs has initiated coverage on Bata India with a ‘neutral’ rating, projecting a seven per cent uptick in the stock with a TP of ₹1,470.
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