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QSR

Restaurant Brands

$67.28

0.25 (0.37%)

08:41
05/13/19
05/13
08:41
05/13/19
08:41

Restaurant Brands cut to Underperform on franchisee unrest at Longbow

As previously reported, Longbow analyst Alton Stump downgraded Restaurant Brands to Underperform from Neutral, telling investors that his latest talks with domestic Burger King franchisees points to "a significant level of discord" between corporate and franchisees related to the company's recently more aggressive discounting strategy. Comparable sales growth at the brand has decelerated from nearly 4% average growth in the second half of 2017 and early 2018 to be flattish over the last three quarters as corporate has not yet been able to meaningfully upgrade its everyday value platform, said Stump. Though the relationship between corporate and Tim Hortons franchisees in Canada has improved, his franchisee contacts were disappointed with comp performance in Q1, added the analyst, who set a $55 price target on the stock.

  • 15

    May

QSR Restaurant Brands
$67.28

0.25 (0.37%)

05/01/19
LBOW
05/01/19
DOWNGRADE
LBOW
Neutral
McDonald's downgraded to Neutral on valuation at Longbow
As previously reported, Longbow analyst Alton Stump downgraded McDonald's (MCD) to Neutral from Buy. While the company's "impressive" U.S. comp growth in Q1 increases his confidence in comps over the last three quarters of the year, he also believes the stock reflects his favorable view with shares trading near his prior price target of $200. Stump added that he believes the strong U.S. comparable sales growth likely means the company gained share from the likes of Dunkin' Brands (DNKN), Burger King (QSR) and Wendy's (WEN) in Q1.
05/09/19
JEFF
05/09/19
INITIATION
Target $70
JEFF
Hold
Restaurant Brands initiated with a Hold at Jefferies
Jefferies analyst Alexander Slagle started Restaurant Brands with a Hold rating and $70 price target. The analyst sees opportunity for "robust" international unit growth and a "modest" reacceleration in same-store-sales. However, he believes investors largely appreciate this at current share levels.
05/09/19
05/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Booz Allen (BAH) initiated with a Buy at Goldman Sachs. 2. CACI (CACI) initiated with a Buy at Goldman Sachs. 3. SAIC (SAIC) initiated with a Neutral at Goldman Sachs 4. Avista (AVA) initiated with an Underperform at BofA/Merrill. 5. Restaurant Brands (QSR) initiated with a Hold at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
LBOW
05/13/19
DOWNGRADE
LBOW
Underperform
Restaurant Brands downgraded to Underperform from Neutral at Longbow

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