Goldman Sachs initiated coverage on Avenue Supermarts, which runs the D-Mart retail store. The global financial services behemoth has a buy rating on the stock with a target price of Rs 1,586, implying an upside of more than 50% from the current levels. Shares of D-Mart surged 18% to Rs 1,212 on Tuesday afternoon as the investors cheered the news! The shares had more than tripled at yesterday's closing price to Rs 1,029, as compared with the issue prcie of Rs 299. Goldman Sachs believes that EBIT of the company is likely to grow 13 times in the next 10 years. It also added Avenue Supermarts to its conviction list. In an interview to ET Now, Vishal Khandelwal of SafalNiveshak.com said, "Avenue Supermarts has one of the best inventory turnovers in the industry. Core of being a value investor comes out very well in D-Mart's annual report."