Jubilant Foodworks shares gain; BofA starts with 'buy'

Reuters Market Eye - Shares in Jubilant Foodworks Ltd gain after Bank of America Merrill Lynch starts coverage with a "buy" rating and a target of 1,375 rupees.

Says the company in a sweet spot in the large and high-growth quick service restaurants market.

Jubilant has the franchisee of Domino's Pizza and Dunkin' Donuts in India.

Company's earnings can more than double by FY17, the investment bank said in a report.

Jubilant Foodworks stock ended up 6.2 percent at 1,209.80 rupees.

(Reporting by Abhishek Vishnoi)