Buy Devyani International, target price Rs 195: JM Financial

JM Financial has issued a buy call for Devyani International, setting a revised target price of Rs 195. While KFC and Pizza Hut's performance was suboptimal, better margins in international and Costa Coffee segments aided growth. The management aims to drive Same Store Sales Growth and marketing cost reduction. Promoters hold 62.72% stake, FIIs 11.17%.