Shares of Coffee Day Enterprises today gained 1.2 per cent due to “buy’’ rating given by Citi.
Citi has given “buy’’ rating with a target of Rs 315.
It says Cafe profitability is likely to improve as the company takes initiatives to raise sales throughput and completed a phase of store rationalisation.
Citi says the company’s mix is improving as its high-growth, high margin vending business ramps up and commodity exports fall.