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Fly News Breaks for July 22, 2019
QSR
Jul 22, 2019 | 08:15 EDT
Wells Fargo analyst Jon Tower raised his price target for Restaurant Brands to $79 from $70 ahead of quarterly results. While the analyst sees an underwhelming same-store sales quarter at Burger King U.S. and Tim Hortons Canada, the promised rollout of plant-based proteins across the brands are likely to keep investors engaged in the stock, especially given the recent success at competitors and in test markets with this menu item. He reiterates a Market Perform rating on the shares.
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