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Fly News Breaks for December 9, 2019
QSR
Dec 9, 2019 | 16:25 EDT
RBC Capital analyst Christopher Carril initiated coverage of Restaurant Brands with an Outperform rating and $77 price target. The analyst cites the company's "attractive" valuation relative to its peers at 16-times his expected FY21 EBITDA. Carril also notes Restraurant Brands' "strong" unit and system sales growth at Popeyes and Burger King, though he sees the Tim Horton performance as the key unlocking value in the stock.
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