30 analysts now have coverage on Jubilant Foodworks, of which 20 have a “buy” rating, six say “hold”, while four have a “sell” recommendation on the stock.
HSBC Downgrades
HSBC downgraded Jubilant Foodworks to “hold” from its earlier rating of “buy” and cut its price target to ₹530 from ₹630 earlier.
The brokerage said that the first quarter Like-For-Like trends are pointing to marginal improvement, but also points to activation-led demand, making it a choice between growth or margins for the company.
Earnings estimates for Jubilant Foodworks have also been cut by HSBC as they see a headwind in the form of near-term inflation.
Jefferies Cuts Target By 30%
Even as Jefferies maintained its “buy” rating on the stock, it cut its price target to ₹600 from ₹850 earlier.
The brokerage said that the flat same store sales and cautious margin commentary suggest that a wait for a turnaround continues for the company.
With consumer tech platforms becoming preferred ways for investors to play the consumption theme, Jubilant’s fourth quarter provided no reason to revisit the name.
JPMorgan Stays “Neutral”
JPMorgan has a “neutral” rating on Jubilant Foodworks with a price target of ₹474.
The brokerage cited a measured narrative by the management on the earnings call amidst rising inflationary headwinds, although they noted that the first quarter is tracking better compared to the last and the management reiterated its like-for-like growth target of 5% to 7% over the medium term.
Jubilant Food In Q4
For the March quarter, Jubilant Foodworks reported revenue growth of 6.4%, while EBITDA increased by 11.5% from last year. Margins expanded by 90 basis points as well.
The company’s delivery channel revenue increased by 10.3% from last year, with the delivery mix at 76.1% of the overall business.
Shares of Jubilant Foodworks are trading 6.6% lower on Thursday at ₹441.5. The stock is now down 20% so far in 2026.
