India's Metro Brands up as Goldman starts with 'buy'
22/03/2024 06:59
** Metro Brands METB.NS up ~0.5% at 1,137 rupees, easing
from a jump of as much as 6.2%
** Goldman Sachs starts coverage of the footwear retailer's
stock with "buy" and 1,450 rupees PT
** Says Metro is better positioned to premiumisation trends
than "neutral"-rated Bata India BATA.NS , whose premiumisation
initiatives has not managed to revive growth yet
** Bata up 0.6% on the day
** Analysts' avg rating on both Metro and Bata is "hold"
-LSEG data
** METB now up ~10.5% YTD, while BATA is down ~16%
(Reporting by Hritam Mukherjee in Bengaluru)
((Hritam.Mukherjee@thomsonreuters.com;))