Fila, Footlocker to fuel rev growth at India's Metro Brands - Motilal

Bata India

11/01/2024 05:38

** Sales from Fila and upcoming Footlocker stores to
constitute 50% of Metro Brands Ltd's  METB.NS  consol revenue
over next 3-5 years - Motilal Oswal
    ** Brokerage sets street-high target of 1,530 rupees on
footwear retailer; says METB's "rich" valaution backed by
long-term growth scope
    ** METB shares up 1.5% at 1,277.7 rupees
    ** Motilal values Fila, Footlocker at around 160 rupees/shr
    ** However, Kotak Institutional Equities advises investors
to "reduce," saying METB's long-term growth fully priced    
    ** Motilal's "buy" on METB better than 15 analysts' avg
rating of "hold" - LSEG data
    ** Stock rose 44% in 2023; rival Bata India  BATA.NS  was
little changed

 (Reporting by Nandan Mandayam)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))