India's Jubilant FoodWorks rises after Macquarie upgrades to 'neutral'
BUZZ-India's Jubilant FoodWorks rises after Macquarie upgrades to 'neutral' ** Shares of Domino's Pizza India operator Jubilant FoodWorks JUBI.NS rise 1.1% to 520.45 rupees
** Macquarie upgrades stock to "neutral" from "underperform", with a TP of 520 rupees
** Brokerage says stronger performance seen in Popeye's format and the operating leverage gains possible in India business makes it constructive on JUBI
** Says JUBI's relatively smaller share of dine-in sales results in lower EPS upgrades as brokerage expects the recovery to be led by dine-in/takeaway channel
** "Expectations of lower flow-through of demand recovery make us cautious at current valuations," says Macquarie
** JUBI trades at forward 12-month PE of 74.39 vs industry median of 28.73 - LSEG-compiled data
** Nineteen of 29 brokerages rate the stock "buy" or higher; their median PT is 578 rupees
** YTD, stock down 7.8%
(Reporting by Abhinav Parmar in Bengaluru)
Recent news on Jubilant FoodWorks
See all newsIndia's Jubilant FoodWorks slides as analysts flag weakness in overseas business
India's Jubilant FoodWorks posts higher quarterly revenue as Domino's sales pick up (updated)
India's Jubilant FoodWorks posts higher revenue on steady Domino's sales
India's Jubilant FoodWorks rises after Macquarie upgrades to 'neutral'
Indian state shuts some Domino's, Pizza Hut outlets, citing hygiene lapses