Jollibee International Business May Be Worth More in Hong Kong Than US

Jollibee Foods Corp.'s international business may have a higher valuation in Hong Kong than in the US, according to COL Financial chief equity strategist April Lynn Tan.

Tan believes that JFCI could be considered a mid- to large-cap quick-service restaurant (QSR) stock if listed in Hong Kong, allowing it to trade at a higher price-to-earnings (P/E) multiple.

In contrast, the international unit would likely be considered a small-cap consumer or QSR stock if listed in the US, where it would compete with much larger companies like McDonald's and Chipotle.