Macquarie on Avenue Supermart:
Maintains an “Outperform” rating with a target price of ₹5,600.
Sales growth has slowed compared to Q1.
Store additions have been slightly below expectations.
Gross margins are expected to decline due to a shift in product mix.
Morgan Stanley on Avenue Supermart:
Maintains an “Overweight” rating with a target price of ₹5,769.
Growth has been slower than expected.
Awaiting management’s explanation on the slower growth.
Standalone revenue is 5% below estimates.
Operational improvements are happening but at a slower pace.
Goldman Sachs on Avenue Supermart:
Maintains a “Sell” rating with a target price of ₹4,050.
A sharp growth slowdown is likely, impacted by quick-commerce trends.
The slowdown is due to weaker same-store sales growth (SSSG).
EPS estimates for FY26/27 are reduced by 2%.
The pace of new store openings is at risk.
