Joshua Horowitz | The aggressive ghost kitchen delivery experience operator gets analysts support quoting “…very strong start in a market with excellent tailwinds….” as additional expansion plans to the Philippines and the United States are underway.

Toronto-based investment banking research analysts at Beacon Securities have reiterated their support of JustKitchen (TSXV:JK.V) forecast performance for 2021 with a BUY rating ad $3.40 price per share target. This vote of confidence (representing over 100% growth in share value from its current trading position) comes after a long line of positive announcements and business results from the ghost-kitchen delivery experience leader.

JustKitchen was put by media and analysts in one line with the biggest brands of the industry as a rising success story of business model and growth. The company has made strides in food delivery experience proliferation across countries with a strong and consistent growth performance across all business and strategic KPIs.

The company has shown a 63% jump in daily orders with over 142,000 in April / May of this year alone and a whopping 53% gross margin. JustKitchen is catering to a novel market trend of changed culinary consumer behavior (over the past decade) from going out to delivery or take-out experiences that are growing 300% faster than dine-in with 60% of American households ordering-in at least two times each week.

JK’s unique HUB and Spokes business model represents a $50 million income potential per each HUB established and the company is well on-track to open multiple HUBs across APAC and North America within 2021.

The analysts at Beacon provide the BUY rating based on the company’s aggressive performance and future potential, stating that they believe the company’s demonstrated growth remains early innings as JK builds out its Taiwan footprint (35 spokes), Hong Kong (target of 8) as well as plans for aggressive entry into the Philippines, Singapore and the United States.

(The above story first appeared on LatestLY on Aug 02, 2021 04:31 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website