Jollibee downgrades to MSCI small cap index

MANILA, Philippines – Fast-food giant Jollibee Foods Corp. could face weaker liquidity and lower foreign investor visibility after its confirmed migration to the MSCI Philippines Small Cap Index next month. In a report, First Metro Securities Brokerage Corp. and DBS Bank, reinstated a “hold” recommendation on Jollibee while sharply cutting the fast-food giant’s target price to