Neutral Westlife Development; target of Rs 440 : Motilal Oswal
Motilal Oswal recommended Neutral rating on Westlife Development with a target price of Rs 440 in its research report dated December 22, 2020.
December 23, 2020 / 01:12 PM IST
Motilal Oswal's research report on Westlife Development
Westlife Development (WLDL) is one of India’s fastest growing players in the quick service restaurant (QSR) sector. It is focused on establishing and operating McDonald’s restaurants across West and South India through its wholly-owned subsidiary Hardcastle Restaurants Pvt (HRPL). McDonald’s operates via various formats including standalone restaurants, drive-through (drive-thrus), mall food courts, delivery, and takeaways. It also has three thriving brand extensions: McDelivery, McCafé and McBreakfast.
We are encouraged by the long term structural opportunity. However, the current valuations seem to fully price in the near term upside. We initiate coverage with a Neutral rating and target price of INR440.
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