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Investing.com - CLSA has upgraded Avenue Supermarts (DMART:IN) from Outperform to High-Conviction Outperform while raising its price target to INR6,408.00 from INR5,466.00, representing a 50% upside potential.
The upgrade follows Avenue Supermarts’ annual analyst meeting where the company outlined its strategic priorities, including accelerating store additions to improve sales growth.
CLSA highlighted the company’s focus on private label expansion as a key component of its long-term competitive advantage, though it noted that near-term margins may remain volatile due to business acceleration efforts.
The research firm also pointed to Avenue Supermarts’ clear strategy for its DMart Ready service, which aims to bridge the gap between value and convenience retail formats.
CLSA described Avenue Supermarts as "the biggest multi-decadal opportunity in retail," with the company’s strategic clarity driving the firm’s increased confidence in its investment outlook.
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