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Fly News Breaks for August 23, 2019
Aug 23, 2019 | 07:15 EDT
Stephens analyst Will Slabaugh said he believes the combination of Popeye's new chicken sandwich and its "well-executed social media blitz" have helped drive same-store sales growth for the brand into the high-single to low-double digits since the product launch. While Popeye's only represents 12% of parent Restaurant Brands' (QSR) store base, he still thinks the "chicken sandwich wars," which have made the news, are important for the story as he believes the brand will become a larger part of the company, and Restaurant Brands licensee Carrols Restaurant (TAST), over time. Slabaugh also said he views this as a missed opportunity at McDonald's (MCD), where a quality chicken sandwich product could help guest counts. The analyst keeps Overweight ratings on shares of both franchisor Restaurant Brands and franchisee Carrols.
News For MCD;QSR;TAST From the Last 2 Days
Sep 18, 2019 | 13:01 EDT
A translation of a French language report from The Journal de Montreal said that Restaurant Brands' (QSR) Tim Hortons will stop offering Beyond Meat (BYND) lunch products in Quebec and will only offer them in Ontario and British Columbia, where the chain has received "positive comments." In early afternoon trading, Beyond Meat shares are down 5% to $151.94. Reference Link
Sep 17, 2019 | 10:17 EDT
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.