Oppenheimer analyst Brian Bittner says that while Domino's Pizza (DPZ) has been the center of speculation, his analysis suggests Papa John's (PZZA) represents the most logical target for Restaurant Brands (QSR). The analyst points out that Domino's Pizza larger size and valuation would require a major equity raise whereas Papa John's could be fully-funded internally by cash and pro-forma leverage. Domino's Pizza fundamentals are best-in-class, but Papa John's anatomy better fits Restaurant Brands' deal characteristics, he contends. Bittner reiterates an Outperform rating and $75 price target on Restaurant Brands' shares.