Goldman cuts Jubilant FoodWorks TP to Rs 460 on margin squeeze, weak Domino's LFL
Goldman Sachs stays neutral on Jubilant FoodWorks, trimming target to Rs 460 from Rs 480 as Domino's India same-store growth crawls to 0.2% YoY and margin pressure persists. Elsewhere, Nuvama upgrades Grasim to buy on paints traction (TP Rs 3,546); Morgan Stanley overweight on PI Industries at Rs 3,883.
Goldman Sachs stays neutral on Jubilant Foodworks, cutting TP to Rs 460 citing margin pressure and weak Domino's India LFL growth of 0.2%. Nuvama upgrades Grasim to buy on paints scale-up; Morgan Stanley overweight on PI Industries.