Jubilant FoodWorks Share Price Target Held at Rs 486 as Morgan Stanley Maintains Equal-Weight Rating

The Jubilant FoodWorks share price target of Rs 486 has been reiterated by Morgan Stanley, which kept its equal-weight rating on the quick service restaurant operator following a Q1 FY27 update that was broadly in line with estimates. Jubilant FoodWorks was quoting at Rs 450.45 on the NSE, up 2.85 percent, after touching an intraday high of Rs 455.

Morgan Stanley’s target of Rs 486 implies modest upside of around 8 percent from current levels, reflecting a balanced rather than strongly bullish or bearish stance on the stock as the company navigates margin pressures amid an improving same-store sales trend.

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Morgan Stanley’s Jubilant FoodWorks Note: Key Points

Metric	Q1 FY27 Detail
India Revenue Growth	9.2% YoY, in-line with estimates
Like-for-Like Growth	Improves to 2.5%
New Stores Opened	58 in Q1, ahead of estimates
Consolidated Revenue Growth	14.1% YoY, below estimates
Margin Outlook	Key focus amid inflationary pressures
Morgan Stanley Rating	Equal-weight (maintained)
Jubilant FoodWorks Share Price Target	Rs 486
CMP (7 July, 11:19 AM)	Rs 450.45 (+2.85%)

Why the Jubilant FoodWorks Share Price Target Stayed Unchanged

Morgan Stanley’s equal-weight stance behind this Jubilant FoodWorks share price target reflects a mixed set of signals in the Q1 update. On the positive side, India revenue growth of 9.2 percent came in line with the brokerage’s own estimates, like-for-like growth improved to 2.5 percent, showing existing stores are gaining traction, and the company opened 58 new stores in the quarter, ahead of estimates, signalling confident network expansion.

For this Jubilant FoodWorks share price target, on the more cautious side, consolidated revenue growth of 14.1 percent came in below estimates, and Morgan Stanley flagged the margin outlook as a key focus area amid ongoing inflationary pressures on input costs such as cheese and other key ingredients. This balance of in-line domestic performance against a softer consolidated number and margin uncertainty explains why the brokerage held its rating and target steady rather than upgrading.

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What the Like-for-Like Improvement Means for the Share Price Target

Like-for-like growth improving to 2.5 percent is arguably the most encouraging data point behind this Jubilant FoodWorks share price target in Morgan Stanley’s note, since same-store sales growth reflects the health of the existing store network independent of new store additions. A positive and improving like-for-like trend suggests Domino’s India is regaining customer traction after a period of more muted same-store performance across the broader quick service restaurant industry.

What to Watch for the Jubilant FoodWorks Share Price Target

Investors tracking the Jubilant FoodWorks share price target should watch margin trends in the detailed quarterly results given ongoing input cost inflation, the sustainability of the improving like-for-like growth trend in subsequent quarters, and whether the pace of new store additions continues to run ahead of estimates through the rest of FY27.

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Conclusion

Morgan Stanley has maintained its equal-weight rating with a Jubilant FoodWorks share price target of Rs 486, implying modest upside of about 8 percent, after a Q1 FY27 update showing in-line India revenue growth, improving like-for-like sales and ahead-of-estimate store additions, balanced against softer consolidated revenue growth and margin pressures. The stock rose nearly 3 percent to Rs 450.45 on 7 July 2026.

Frequently Asked Questions on the Jubilant FoodWorks Share Price Target

What is Morgan Stanley’s Jubilant FoodWorks share price target?

Ans. Morgan Stanley has maintained an equal-weight rating on Jubilant FoodWorks with a share price target of Rs 486, implying modest upside of around 8 percent from the stock’s current level of about Rs 450.45.

Why did Morgan Stanley keep an equal-weight rating on Jubilant FoodWorks?

Ans. Morgan Stanley’s equal-weight stance balances positives like in-line India revenue growth, improving like-for-like sales and ahead-of-estimate store openings against softer consolidated revenue growth and margin pressures from input cost inflation.

What was Jubilant FoodWorks’ India revenue growth in Q1 FY27?

Ans. India revenue grew 9.2 percent year on year in Q1 FY27, which Morgan Stanley noted was in line with its estimates.

How did Jubilant FoodWorks’ like-for-like growth perform in Q1 FY27?

Ans. Like-for-like growth improved to 2.5 percent in Q1 FY27, according to Morgan Stanley’s note, signalling that existing stores are gaining sales traction.

How many stores did Jubilant FoodWorks open in Q1 FY27?

Ans. Jubilant FoodWorks opened 58 new stores in Q1 FY27, which Morgan Stanley noted was ahead of its estimates for the quarter.

What is the Jubilant FoodWorks share price today?

Ans. Jubilant FoodWorks was quoting at Rs 450.45 on the NSE on 7 July 2026, up 2.85 percent, after touching an intraday high of Rs 455.

Should investors buy Jubilant FoodWorks based on this share price target?

Ans. This article does not constitute investment advice. An equal-weight rating suggests a balanced view rather than a strong buy or sell signal. Evaluate margin trends and valuations, and consult a SEBI registered financial advisor before investing.