This midcap QSR firm 2% away from hitting 52-week high price hit last year

Shares of the midcap QSR player Westlife Foodworld in Friday's session zoomed as much as 9 per cent to day's high of Rs 956.65, nearing its 52-week high price hit last year on the same day. At the last count shares of the company were up nearly 6 per cent at Rs 928.65 per share on the BSE.

The spurt in the stock came as global brokerage Goldman Sachs upgraded the stock from the earlier 'neutral' call to 'buy' call and a raised target of Rs 1,075. The new set target implies investors in the stock can gain another 23 per cent.

Global brokerage believes that hopes of growth recovery in the stock are viewed amid menu intervention. Also, the company has come up with a new platform called McCrispy which is expected to offer a fillip going forward.

The brokerage has highlighted that after almost 13 years there has been made a humongous shift in the menu catered to by the company. The company has included 2 premium burgers namely, McCrispy Chicken Burger and Crispy Veggie Burger.

And for the new products, the company has pegged the price on the higher end which will aid in margin improvement, added Goldman Sachs.

Also, the brokerage forecasts recovery at the company in 2HFY25 amid good recovery in same store sales growth (SSSG). Furthemore, from FY26, the brokerage forecasts single digit growth in SSSG.