Jollibee Foods Could Gain From Rapid Store Expansion -- Market Talk
Jollibee Foods Could Gain From Rapid Store Expansion -- Market Talk
0328 GMT - Jollibee Foods Corp. appears set to gain from its aggressive global expansion, Daiwa Capital says. The Japanese investment bank initiates coverage on the stock at outperform and a target price of PHP260.00, noting that the fast-food company plans to open 450-500 stores annually over the next three years, with over 80% of new stores located outside the Philippines. The bank expects the fast-food company's revenue to grow by 19% CAGR over 2020-2023, led by growth in its international operations. Revenue from Jollibee's Philippines operations also seem set to recover next year as the economy gradually reopens, the bank adds. Shares are 0.5% lower at PHP244.00.(yiwei.wong@wsj.com)
格林尼治标准时间0328分——大和资本表示，Jollibee Foods Corp. 似乎将从其激进的全球扩张中获益。这家日本投资银行以跑赢大盘，目标价格为260.00菲律宾比索，并指出这家快餐公司计划在未来三年内每年开设450-500家门店，其中超过80％的新门店位于菲律宾境外。该银行预计，在国际业务增长的带动下，这家快餐公司的收入将在2020-2023年间增长19％的复合年增长率。该银行补充说，随着经济逐渐重新开放，明年Jollibee在菲律宾的业务收入似乎也将恢复。股价下跌0.5％，至244.00菲律宾比索。(yiwei.wong@wsj.com)
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