Shares of Tata group-owned Trent Ltd. will be in focus on Tuesday, December 2, after global brokerage firm Bernstein cut its price target on the stock.

Bernstein lowered its target to ₹5,000, though the revised estimate still implies about 19% upside from Monday’s closing price. The brokerage has maintained its ‘Outperform’ rating.

Bernstein said Trent’s revenue growth appears to have bottomed out and outlined the key drivers for a recovery.

It expects like-for-like growth in split stores to turn positive due to a favourable base, a strong 3-year 20% CAGR expansion in the Zudio network, an improving consumer demand environment, and steady momentum in Westside.

The brokerage flagged rising competition, especially new store additions and…