Mumbai: Deutsche Bank upgraded its ratings on Jubilant Foodworks Ltd to “buy” from “hold”, saying the recent underperformance of shares did not properly factor in the fast food chain operator’s ability to sustain “strong” earnings growth.
Deutsche added investors’ focus on slowing same store sales growth ignored Jubilant’s “huge” opportunity to grow its business, according to a note dated on Wednesday.
(The promoters of HT Media Ltd, which publishes Hindustan Times and Mint, and Jubilant are closely related. There are no promoter crossholdings.)
