Shares in Jubilant Foodworks gained 4.9 per cent after Bank of America Merrill Lynch starts coverage with a “buy” rating and a target of Rs. 1,375.
Bank of America Merrill Lynch says the company in a sweet spot in the large and high-growth quick service restaurants market.
Jubilant has the franchisee of Domino’s Pizza and Dunkin’ Donuts in India.
Company’s earnings can more than double by FY17, the investment bank said in a report.