Shares of Jubilant FoodWorks Ltd have declined over 5% in the past month, currently trading at ₹624.90, as investors adopt a cautious stance amid muted consumption trends and competitive pressure in the quick-service restaurant (QSR) segment.
Despite the recent weakness, Morgan Stanley has maintained its ‘Overweight’ rating on Jubilant FoodWorks, setting a target price of ₹775 per share, suggesting a potential upside of around 24% from current levels. The brokerage remains confident in the company’s expansion plans, digital initiatives, and operational efficiency, which could drive earnings recovery in FY26.
On the other hand, Goldman Sachs continues to hold a ‘Neutral’ view with a target of ₹650, implying limited upside in the near term, while Macquarie retains its ‘Underperform’ call with a target of ₹530, citing margin pressures and slower same-store sales growth as key risks.
The divergence in ratings highlights contrasting outlooks — while Morgan Stanley foresees a rebound led by execution and network strength, others remain cautious about near-term headwinds in consumer spending and pricing flexibility.
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