Jubilant FoodWorks: Jefferies Sees 34% Upside As Popeyes Doubles

Jubilant FoodWorks is a big company in India that runs restaurants like Domino's Pizza and Popeyes.

A research company called Jefferies studies companies and guesses whether their stocks will go up or down.

Jefferies thinks Jubilant FoodWorks will do well, so it told investors to keep buying its stock.

It raised its target price to Rs 650, meaning it believes the stock can climb by about 34 percent.

One reason is Domino's: more people are ordering pizza again, and the company opened 58 new Domino's stores.

Another reason is Popeyes, a fried chicken chain whose sales doubled as it added 10 new stores.

But making the food costs more because things like cheese and oil got more expensive, so profits are a bit tighter.

The company also runs restaurants in other countries, like Bangladesh, Sri Lanka, and Turkey, and those are growing too.

So Jefferies thinks the company has a bright future, as long as it keeps a careful eye on its costs.