Moneycontrol
Nov 13, 2017 11:15 AM IST | Source: Moneycontrol.com

Jubilant Foodworks hits 52-week high; Morgan Stanley recommends buy on dips

CLSA has reiterated buy call on the stock. The end-customer prices will go down 5 percent, while menu prices need to go up by 6-7 percent, it feels

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Share price of Jubilant Foodworks touched 52-week high of Rs 1,718.40, gaining 3.4 percent intraday Monday as global brokerage has maintained positive outlook on the stock.

Deutsche Bank has maintained buy rating on the stock with a target of Rs 1,775 per share. According to the firm, the 5 percent GST without input credit is a minor headwind to tackle.

Any short-term volatility should be used to buy the stock, it added.

CLSA has reiterated buy call on the stock. The end-customer prices will go down 5 percent, while menu prices need to go up by 6-7 percent, it feels

Morgan Stanley expects the reduction in GST rate will enable company to offset any increase in operating costs and risk-reward for the stock appears skewed on the upside now.

Any immediate weakness in stock would be a buying opportunity, it advises.

At 11:07 hrs Jubilant Foodworks was quoting at Rs 1,696.80, up Rs 35.40, or 2.13 percent on the BSE.

Posted by Rakesh Patil
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