Restaurant Brands price target lowered to $72 from $73 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Restaurant Brands (QSR) to $72 from $73 and keeps an Equal Weight rating on the shares. With industry demand improved, the firm sees a likely better quarter for restaurants and food distributors than Q1, the analyst tells investors in a research note. Ongoing policy noise remains a risk but middle/upper income customer cohorts remain solid, and costs are mostly benign, the firm argues.