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Fly News Breaks for March 20, 2019
QSR
Mar 20, 2019 | 07:30 EDT
Mizuho analyst Jeremy Scott downgraded Restaurant Brands to Neutral from Buy and lowered his price target for the shares to $68 from $69. The stock is up more than 20% year-to-date, and while it started the year cheap relative to its free cash flow, its multiple is now more in line with expectations, Scott tells investors in a research note. Further, the analyst has lower confidence in Tim Hortons' and Popeyes' international growth.
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