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Fly News Breaks for August 19, 2019
QSR
Aug 19, 2019 | 09:56 EDT
Longbow analyst Alton Stump reiterated an Underperform rating and $60 price target for Restaurant Brands International, saying that based on conversations with Canadian Tim Hortons franchisees, he believes same-store sales were "flattish" to-date in the third quarter, which is below his prior estimate of 1% growth. He thinks a comp miss for Tim Hortons Canada for the third consecutive quarter will be viewed negatively by most investors.
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