Credit Suisse initiates coverage on Burger King, here’s why

Credit Suisse has initiated coverage on Burger King with an 'outperform' rating and a target price of Rs 215.

The brokerage house believes, Burger King will remain one of the fastest growing QSR chains in India and expects the recent underperformance to reverse once the out-of-home consumption normalizes and clarity emerges on the company’s Indonesia acquisition.

Credit Suisse believes Burger King will report a net profit in FY24 for the first time since their launch in India.