Buy Burger King India, target price Rs 200: ICICI Securities
The brokerage models revenue / EBITDA CAGR of 21% / 36% over FY20-24E.
By ETMarkets.com | Updated:
Agencies
ICICI Securities has buy call on Burger King India Ltd. with a target price of Rs 200. The current market price of Burger King India Ltd. is Rs 176.25. Time period given by analyst is one year when Burger King India Ltd. price can reach defined target.
Investment Rationale
The brokerage models revenue / EBITDA CAGR of 21% / 36% over FY20-24E. It initiates a BUY with a DCF-based target price of Rs200. Key downside risks are delays in store expansion plans and increased competitive intensity in north and east markets.
Promoter/FII Holdings
Promoters held 52.7 per cent stake in the company as of March 31, 2021, while FIIs held 14.7 per cent, DIIs 5.6 per cent and public and other 27 per cent.
Investment Rationale
The brokerage models revenue / EBITDA CAGR of 21% / 36% over FY20-24E. It initiates a BUY with a DCF-based target price of Rs200. Key downside risks are delays in store expansion plans and increased competitive intensity in north and east markets.
Promoter/FII Holdings
Promoters held 52.7 per cent stake in the company as of March 31, 2021, while FIIs held 14.7 per cent, DIIs 5.6 per cent and public and other 27 per cent.
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