Buy Sapphire Foods India, target price Rs 365: JM Financial

JM Financial maintains a Buy call on Sapphire Foods, setting a target price of Rs 365, citing attractive valuations despite near-term demand challenges. Sapphire's revenue grew 13% YoY, driven by KFC and Sri Lanka businesses, while Pizza Hut faced headwinds. The brokerage has revised its EBITDA estimates downwards due to weak demand and slow SSSG recovery.