I'm thinking $8 is a pretty good entry point. That's a PE of 19 on the current earnings and 15 times the forward earnings if they manage to hit the projections that Bell Direct have for them (51 cent EPS). Since COVID it's been Taco Bell that's expanded and also the expanded deal they got for the Netherlands in terms of extra potential growth areas. I'm not too sure about Red Rooster as a genuine threat to KFC although I could be wrong. Here in Geelong there is a huge difference between the lines I see going through to the KFC drive throughs compared to the two Red Roosters we have in town. They might be able to close some of the gap but I think the KFC brand is significantly stronger.
CKF Price at posting:
$8.87 Sentiment: Hold Disclosure: Held
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