Morgan Stanley sees 32% upside on Future Retail, but stock trades weak

Moneycontrol News

Future Retail was under pressure as imminent weakness in the Indian market also reflected in the stock price.

But a positive view from Morgan Stanley could keep the stock in focus as it maintained its overweight stance on the stock with a hiked target price of Rs 660 from Rs 500. This implies 32 percent upside on the stock.

Implementation of GST, continuing strong SSSG and private label brands offer good opportunity for margin expansion, the brokerage said. In fact, small-format stores could drive further expansion in valuation multiples