Business Business:Shares in McDonald's operator Westlife Foodworld rose more than 9 percent in intraday trading on Friday, September 27, after brokerage Goldman Sachs upgraded its recommendation to “buy” with a target price of £1,075. This target represents an increase of 22.6 percent from the stock's previous closing price. Goldman Sachs cited the launch of the Macrispi platform as a key factor in Westlife's recovery. The broker said it was the first significant addition to McDonald's core burger range in more than a decade, with the McSpicy range last introduced in 2011. McCrispy's platform includes premium offerings such as McCrispy Chicken Burger and Crispy Veggie Burger in West and South India and Crispy Fried Chicken in the southern region.
The items are positioned at the top of the menu and are in line with McDonald's global focus on expanding the chicken category, which Goldman Sachs sees as beneficial to Westlife.The brokerage firm also estimates that Westlife's (SSSG) same-store sales growth will start to recover in H2FY25, supported by last year's weak base. Looking ahead, the company expects FY26 SSSG to be in high single digits, which will further strengthen the company's business outlook. QSR shares rose 9.1 per cent to an intraday high of £956.65. Shares are now just 2 per cent below their all-time high of £975.65 recorded in October last year.
Shares are now up more than 36 per cent from their 52-week low of £701.05 in March this year. Trading volumes increased due to rating upgrades and positive outlook. As of September 27, more than 1.5 million Westlife shares were traded on the BSE and NSE, significantly higher than the monthly average of 100,000 shares. Mid-cap stocks are down nearly 10 percent last year and more than 17 percent this year. There was a 13 percent jump in September after two consecutive months of decline. The calendar year so far has been extremely volatile for stocks.
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