Goldman goes 'Neutral' on Trent, stock declines 4%

Trent's shares plunged nearly 4% following a downgrade by Goldman Sachs from 'buy' to 'neutral,' citing concerns over slowing sales and underperformance of Zudio stores. The brokerage reduced its price target by 21% to ₹5,500. Despite expecting Zudio's FY25 sales to grow by 60%, Goldman Sachs lowered Trent's revenue and earnings estimates.