Global brokerages raise target price on Jubilant FoodWorks post Q2 results; see up to 26% upside

Global brokerage firms remain mixed, but Morgan Stanley, Credit Suisse, Jefferies, and HSBC raised the 12-month target price on Jubilant FoodWorks post Q2 results, data from Zee Business TV showed.

The most aggressive target price was put out by Morgan Stanley that remains an overweight rating with a 12-month target price of Rs 5,000 that translates into an upside of 26 per cent from Rs 3965 recorded on 20 October.

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Morgan Stanley: Overweight| Target: Rs 5000

Morgan Stanley maintains an overweight rating on Jubilant FoodWorks with a 12-month target of Rs 5000. The management reiterated its aim to become a multi-country, multi-brand, technology-driven QSR business.
 
The recent correction in the stock price could be a good buying opportunity for long-term investors.
 
Credit Suisse: Target raised to Rs 3800 from Rs 3130

Credit Suisse maintains a Neutral rating on Jubilant FoodWorks post September quarter results but raised its target price to Rs 3800 from Rs 3130 earlier.

Same-store-sales-growth (SSSG) trend underwhelming in the context of a strong consumer discretionary recovery post reopening. Dominos has a relatively lower market share in food delivery compared to dine-in.

Jefferies: Hold| Target raised to Rs 4100 from Rs 3850 earlier

Jefferies maintains a Hold rating on Jubilant FoodWorks post Q2 results but raised its 12-month target price to Rs 4100 from Rs 3850 earlier.

HSBC: Buy| Target raised to Rs 4650 from Rs 3650 earlier
 
HSBC maintains a buy rating on Jubilant FoodWorks post Q2 results but raised its 12-month target price to Rs 4650 from Rs 3650 earlier.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)