notes: JFC/JOLLIBEE FOODS CORPORATION (10 MAY 2018)

COL FINANCIAL DAILY NOTES (10 MAY 2018)

"We are maintaining our HOLD rating for JFC with a fair value estimate of Php280.0/sh. At its current price of Php283.0/sh, JFC is trading at 41.1X 2018E P/E, significantly above the average valuation of its local and global peers. The stock is also already trading above our fair value estimate. Nevertheless, we continue to like JFC fundamentally given its dominant position in the domestic quick service restaurant industry as well as the improving profitability of its international business. We believe that pullbacks are opportunities to buy the stock."

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UTrade in its USI Daily Morning Report on 18 April 2018 gives a target price of 295.20

COL financial in its earnings analysis of  JFC of 20 March 2018 gives it a Fair Value of 280.00