<ul><li>Jefferies has initiated coverage with a ‘buy’ rating, while Bernstein has an ‘underperform’ call with the lowest target price among all analysts tracking the stock.</li><li>Jefferies is optimistic about Vishal Mega Mart’s growth potential in Tier-2 and smaller cities, its strong store-level economics, and a highly efficient cost structure.</li><li>Bernstein sees risks building up for Vishal Mega Mart, citing peak margins, rising competition, and the struggle to keep up with fast fashion preferences among Tier-2 and Tier-3 consumers.</li><li>Vishal Mega Mart's focus on private labels and sourcing through third-party contract manufacturers allows it to offer products at lower prices compared to branded rivals.</li></ul>

Vishal Mega Mart Divides Analysts; Jefferies, Bernstein Initiate With Contrasting Stances

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