Shakey's Pizza Watchlist
Shakey's Pizza: High Conviction Three Bagger, Management Call Provides Superb Guidance For FY22
889 Views, 09 Apr 2022 12:52
Shakey's Pizza Asia Ventures (PIZZA PM) is a play on F&B normalizing in the Philippines. On our numbers, it trades at a 12.9x PE for FY22 and 10x for FY23.
- Quick Service Restaurant (QSR) peers like Domino's Pizza (DPZ US) and Jubilant Foodworks (JUBI IN) trade at multiples of 39x and 59x fwd PE, making Shakey's an extremely cheap stock.
- Versus the current multiple of 7.9 peso/share, we believe the stock can trade up to 30x PE FY23 implying a 24 peso/share price (200% upside).