India's Avenue Supermarts falls; Goldman Sachs slashes PT

Avenue Supermarts

11/12/2024 04:19

** D-Mart stores operator Avenue Supermarts  AVEU.NS  falls
as much as 3.7% to 3,676.9 rupees
    ** Goldman Sachs cuts PT from 4,000 rupees to 3,425 rupees,
a 10.3% discount to last close; retains "sell"
    ** Says D-Mart's key competitive advantage of offering
lowest prices for branded FMCG facing increasing pressure due to
recent increase in discount by leading quick-commerce players
    ** Cuts AVEU's FY25 earnings estimates by 4.2% on lower rev
growth
    ** Stock set to snap four straight quarters of gains
    ** AVEU rated "hold" on avg; median PT is 4,475 rupees, ~17%
above current price - LSEG
    ** Stock last down 1.6%, extending YTD losses to ~8%

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))