January 5, 2018 / 5:05 AM / 13 days ago

BUZZ-India's Jubilant Foodworks hits over 28-mth high; Jefferies starts with "buy" rating

** Shares of Jubilant Foodworks Ltd rise as much as 2.6 pct to 1,886.95 rupees in morning trade

** Stock hits highest level since Aug. 12, 2015

** Brokerage Jefferies on Thursday initiated coverage on stock with “buy” rating and a price target of 2,200 rupees

** “We are enthused by JFL’s margin story helped by improving store vintage, cost-saving initiatives and dip in Dunkin’s losses,” Jefferies’ analysts wrote

** Possible double-digit same store sales growth could be an additional earnings driver given high operating leverage -Jefferies

** Seventeen of the 31 analysts covering the stock have a “buy” rating, six have “hold” while eight rate it at “sell”; median PT is 1,774.5 rupees - Thomson Reuters data

** Shares have more than doubled in value in the last 12 months up to Thursday’s close

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