Westlife FoodWorld shares jumped nearly 9% on September 26, 2024, after Goldman Sachs upgraded the stock to a ‘Buy’ rating with a target price of ₹1,075, indicating a potential upside from its current price of ₹879.90. The upgrade is driven by the launch of McDonald’s new McCrispy platform, seen as a key factor for the company’s recovery.
Key Points:
- New Menu Launch: The McCrispy platform introduces the McCrispy Chicken Burger and Crispy Veggie Burger in the South and West regions, along with Crispy Fried Chicken in the South. These premium items are expected to enhance margins.
- Growth Expectations: Goldman Sachs projects same-store sales growth (SSSG) recovery in the second half of FY25, with high single-digit growth expected from FY26 onwards.
- Positive Outlook: McDonald’s global emphasis on expanding its chicken offerings is seen as a strategic advantage for Westlife.
As of 9:50 am, Westlife FoodWorld shares were trading 8.59% higher at ₹952.00 on the NSE, reflecting investor optimism following the upgrade and new product strategy.
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