HDFC Securities is bullish on Westlife Development has recommended buy rating on the stock with a target price of Rs 260 in its research report dated February 09, 2017.
HDFC Securities' research report on Westlife Development
Management remains committed to increasing the store network to 450-500 McDonald’s restaurants and 300-350 McCafe’s by 2022. We believe store footprint expansion along with brand extensions and menu innovations will result in 18% sales CAGR over FY17-20E.Maintain BUY with a DCF-based revised TP of Rs 260 (Rs 265 earlier).
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