The shares of Zudio and Westside-parent Trent dropped more than 6.5 percent in the early trading hours of November 10 after the company released its results for the second quarter of the ongoing financial year 2026. Some brokerages cut target prices for the stock, noting down that slower revenue growth reported during the quarter.

The shares of the Tata Group-company hit a 52-week low of Rs 4,326.5 apiece in the morning trading hours of Monday. Trent had released its results in the post market hours of Friday.

Trent Q2 Results:

Trent on November 6 reported a standalone net profit of Rs 451 crore for the second quarter of the financial year 2026. This marks a 6.45 percent year-on-year increase from the Rs 423.44 crore net profit reported in the corresponding quarter of the previous financial year.

The Zudio and Westside-parent’s revenue from operations meanwhile rose more than 17 percent YoY to Rs 4,724 crore during Q2 FY26, as against Rs 4,036 crore during the same quarter last year. This marks the slowest pace since March, 2021, according to Reuters.

Operating profit grew 16 percent to Rs 575 crore. Operating EBIT margin stood at 10.2 percent compared with 11.0 percent a year earlier.

Jefferies on Trent:

Jefferies kept a 'Hold' call on the stock, but cut its target price to Rs 5,000 per share. This implies an upside potential of more than 8 percent from the stock's previous closing price of Rs 4,627.30 apiece.

The international brokerage noted that the revenue growth decelerated further to a multi-quarter low of 17 percent, while operating EBITDA margin growth was nearly flat. It added that store additions picked up sequentially. Non-apparel categories continued to grow, with online segment also gaining share in Westside.

Morgan Stanley on Trent:

Morgan Stanley kept an 'Overweight' call on the stock, with a target price of Rs 5,456 per share. This implies an upside potential of nearly 18 percent from the stock's previous closing price.

The international brokerage noted that fashion LFL grew in low single-digits. As per management, unseasonal rains and muted sentiment hurt demand. Customers prioritized high-ticket purchases post GST rate cuts.

Motilal Oswal on Trent:

Motilal Oswal kept a 'Buy' call on the stock, but reduced its target price to Rs 6,000 apiece. This implies an upside potential of nearly 30 percent from the stock's previous closing price.

The brokerage said that Trent's revenue growth continued to decelerate in Q2 FY26, as 43 percent YoY area addition growth was offset by sharp 17 percent YoY decline in revenue per square foot, indicating store-level sales cannibalization.

"We raise our FY26-28 reported EBITDA estimates by approximately 4-5 percent, driven by cost-saving measures. However, we cut our FY27-28E earnings by 4-5 percent due to higher depreciation," it said.

HDFC Securities on Trent:

HDFC Securities kept a 'Reduce' call on the stock, with a target price of Rs 4,300 apiece. This implies a downside potential of more than 7 percent from the stock's previous closing price. The domestic brokerage maintained its FY27/28 EBITDA estimates and keep

“The ask from H2 is now as high as ~29% revenue growth just to match consensus in FY26,” it said.

Citi on Trent:

Citi downgraded the stock to 'Sell' and sharply reduced its target price to Rs 4,350 apiece from Rs 7,150 apiece earlier. The latest target price implies a downside potential of nearly 6 percent from the stock’s previous closing price.

The international brokerage said that overall consumption trends remains weak, with increasing competition, cannibalisation, and aggressive expansion in Tier-2 and Tier-3 markets, CNBC-TV18 reported. This is why Citi feels Trent’s growth rate is likely to moderate further.

Trent share price history:

Trent shares have dropped more than 7 percent in the past five days, and over 20 percent in the past six months. The stock is down over 38 percent in 2025 so far.

Its P/E ratio currently stands at around 108.