
Share of Jubilant FoodWorks Ltd touched a fresh 52-week high on Thursday after global brokerage Jefferies raised its price targhte to Rs 1,000 from the earlier Rs 800. The operator of fast-food chains Domino's Pizza and Dunkin Donuts also received a 'High Conviction Buy' rating from Jefferies.
Jubilant FoodWorks stock gained 2% to a 52 week high of Rs 755.30 on BSE today. The share has gained 35.07% in one year and risen 2% since the beginning of this year. In a month, the stock has climbed 15.45%.
Market cap of the firm rose to Rs 49,765 crore on BSE.
Jubilant FoodWorks relative strength index (RSI) stands at 73.6, which signals the stock is overbought on charts. A level below 30 is defined as oversold while a value above 70 is considered overbought. Jubilant FoodWorks stock has a one-year beta of 0.6, indicating low volatility during the period
The large cap stock trades higher than the 5-day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages.
Jefferies expects an improvement in the company's outlook, particularly in same-store sales, which are expected to grow in the mid to high single-digit range. The brokerage also believes that Jubilant Food's margins have reached their lowest point in early 2024 and are poised for further improvement.
HDFC Securities has a price target of Rs 690 against the earlier Rs 650 on the stock. It haa issued an 'add' call on the stock.
"We expect Jubi to report strong operational numbers in FY25 within our QSR coverage pack, as SSSG recovery and cost optimisation measures could aid margin recovery. We maintain Jubi as a high-conviction idea with a target price (TP) of Rs 690," the brokerage said in its December 31 report.
Jubilant Foodworks is a food service company and engaged in retail sales of food through strong international and home grown brands addressing different food market segments.