Oppenheimer analyst Brian Bittner reiterated a Buy rating on Restaurant Brands International (NYSE: QSR) yesterday and set a price target of $75. The company’s shares closed yesterday at $57.16.
Bittner commented:
“Ahead of QSR’s results we tick 3Q and 4Q18 EPS estimates lower to properly account for FX headwinds and refined changes in revenue recognition. We remain attracted to QSR’s risk/reward and believe stock has already priced in sluggish TH/BK SSS this quarter. When the market begins to appreciate QSR’s above-average system-wide sales growth we believe the shares will be identified as under-valued. We also see non-modeled cash use as an interesting catalyst particularly given Street assumes cash simply builds on balance sheet. Reiterate Outperform.”
According to TipRanks.com, Bittner is a 5-star analyst with an average return of 11.0% and a 68.7% success rate. Bittner covers the Services sector, focusing on stocks such as Jack In The Box Inc, Cheesecake Factory, and Yum China Holdings.
Restaurant Brands International has an analyst consensus of Strong Buy, with a price target consensus of $71.50, implying a 25.1% upside from current levels. In a report released yesterday, UBS also reiterated a Buy rating on the stock with a $74 price target.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $68.89 and a one-year low of $53.09. Currently, Restaurant Brands International has an average volume of 1.46M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Restaurant Brands International, Inc. is a holding company, which engages in the operation of quick service restaurants. It operates through the following segments: Tim Hortons, Burger King, and Popeyes. The Tim Hortons segment provides donut, coffee, and tea restaurant services. The Burger King segment manages fast food hamburger restaurant.
