Avenue Supermarts Shares Surge on Q3 EBITDA Beat; CLSA Raises Target

• Avenue Supermarts shares gained up to 3% after reporting a margin-led surprise in Q3FY26.
• D-Mart's EBITDA grew over 20% to ₹1,463.37 crore, significantly exceeding analyst expectations.
• Consolidated EBITDA margins improved to 8.1% from 7.6% year-on-year, driven by gross margin expansion.
• CLSA reiterated 'High Conviction Outperform' and raised its price target to ₹6,185, citing stronger profit growth.
• Citi maintains a 'Sell' rating with a ₹3,150 target, expressing concerns about margin sustainability and competitive pressures.

Why It Matters: Avenue Supermarts saw share gains and a CLSA target hike after strong Q3 EBITDA, despite mixed brokerage views.