In a report released today, Andrew Strelzik from BMO Capital reiterated a Buy rating on Restaurant Brands International, with a price target of $83.00.
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Andrew Strelzik has given his Buy rating due to a combination of factors including Restaurant Brands International’s ability to exceed earnings expectations in a challenging market. The company’s third-quarter earnings per share surpassed consensus estimates, driven by strong performance from Tim Hortons, Burger King, and international operations. Additionally, the company demonstrated effective management of expenses, which contributed to beating EBITDA expectations.
Tim Hortons showed robust growth, outperforming the Canadian quick-service restaurant industry, with significant increases in breakfast and beverage sales. Burger King in the U.S. also exceeded expectations, benefiting from strategic marketing and remodels. Internationally, Burger King saw impressive growth, particularly in China, supported by menu innovation and strong marketing efforts. Despite some challenges with Popeyes, the overall brand strategies and growth targets remain promising, making the stock an attractive investment opportunity.
Strelzik covers the Consumer Cyclical sector, focusing on stocks such as Brinker International, Darden Restaurants, and Domino’s Pizza. According to TipRanks, Strelzik has an average return of 3.7% and a 53.17% success rate on recommended stocks.