Citigroup downgraded Trent to Sell, drastically reducing its target price from Rs 7,150 to Rs 4,350. Analysts expect Trent’s growth to moderate further as the overall consumption trend remains weak and is accompanied by increasing competition, the impact of cannibalization and the expansion of new stores. They cut the company’s revenue estimates and earnings before interest, taxes, depreciation and amortization (EBIDTA) for FY26-FY28. Morgan Stanley has an overweight rating on Nykaa with a target price of Rs 271. Analysts said the company’s beauty business maintained its momentum in the July-September (Q2FY26) quarter, while the gross merchandise value (GMV) growth of the fashion business improved significantly. The fashion company’s EBITDA loss narrowed, mainly due to the operational impact on marketing spend. The company’s management was confident that growth momentum would be maintained for both businesses. Analysts said the company’s beauty business performance should be strong in Q3’26, helped by Nykaaland and sales.Goldman Sachs has a neutral rating on Divis Laboratories with a target price of Rs 6,765. Analysts said FY26 revenue and EBITDA grew 16% and 24% year-on-year (year-on-year), above broker estimates, mainly due to adjusted syntheses, while generics also returned to growth. The EBITDA margin was 32.7%, mainly due to a better product mix, higher operating leverage and some foreign exchange gains. The company also reiterated its double-digit growth prospects.Jefferies has a Buy rating on Torrent Pharma with a target price of Rs 4,300. Analysts said the company beat expectations in the second quarter of 2026, mainly due to stronger sales in the US and Brazil. India continued its market-strengthening growth, which was in line with expectations, while persistent supply disruptions caused a decline in sales growth from Germany. Analysts expect India and Brazil to continue to outperform, with an increase in ANDA filings leading the path of continued US growth, with Germany returning to normal in the March quarter.Nuvama has a hold rating on Bajaj Auto with a target price of Rs 9,700, down slightly from Rs 9,800 earlier. Analysts said Bajaj Auto’s revenue and EBITDA rose 14% and 15% year-on-year in Q2FY26, in line with expectations. They forecast compound annual volume growth of 7% over FY25-FY28. While domestic growth is expected to rise by 2%, exports are expected to rise to 13%. They also expect Bajaj Auto’s domestic two-wheeler market share to decline from 12% in FY25 to 10% in FY28. However, the company’s exports are expected to drive growth, led by demand from Latin America and Asia.Disclaimer: The opinions, analyzes and recommendations expressed herein are those of the brokerage and do not reflect the views of The Times of India. Always consult a qualified investment advisor or financial planner before making any investment decisions.
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