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QSR

Restaurant Brands

$69.95

-1.15 (-1.62%)

06:18
09/30/19
09/30
06:18
09/30/19
06:18

Longbow upgrades Restaurant Brands to Neutral on Impossible Whopper strength

Longbow analyst Alton Stump upgraded Restaurant Brands to Neutral from Underperform. After calls with U.S. Burger King franchisees, the analyst believes same-store sales for Restaurant Brands' Burger King concept were up 4.5%-5.0% in Q3 ahead of his prior estimate of 2.0% growth and consensus at up 3.4%. The launch of Burger King's Impossible Whopper in mid-August drove a 500-600 basis point lift to same-store sales over the last six weeks, including 10%-15% growth in Whopper sales, Stump tells investors in a research note. He believes "significantly better than expected" comp performance from Burger King will be viewed positively by investors.

QSR Restaurant Brands
$69.95

-1.15 (-1.62%)

09/17/19
ARGS
09/17/19
INITIATION
ARGS
Buy
Restaurant Brands initiated with a Buy at Argus
09/17/19
ARGS
09/17/19
INITIATION
Target $90
ARGS
Buy
Restaurant Brands initiated with a Buy at Argus
Argus analyst John Staszak initiated Restaurant Brands with a Buy rating and a price target of $90. The analyst contends that the company's acquired brands Tim Horton's and Popeye's Louisiana Kitchen can grow in international markets through master franchise joint venture agreements similarly to the growth seen at Burger King. Staszak further contends that the management of Restaurant Brands will have the ability to open new stores and drive higher comps with initiatives around deliveries, daypart expansion, and plant-based products.
09/17/19
09/17/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Match Group (MTCH) initiated with a Buy at Citi. 2. Restaurant Brands (QSR) initiated with a Buy at Argus. 3. Orchard Therapeutics (ORTX) initiated with a Buy at Guggenheim. 4. Axonics (AXNX) initiated with an Outperform at SVB Leerink. 5. Cellular Biomedicine (CBMG) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/19
LBOW
09/30/19
UPGRADE
LBOW
Neutral
Restaurant Brands upgraded to Neutral from Underperform at Longbow
Longbow analyst Alton Stump upgraded Restaurant Brands to Neutral from Underperform.

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MLNT

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