Truist raised the firm’s price target on Restaurant Brands (QSR) to $87 from $83 and keeps a Buy rating on the shares. The firm has come away from the company’s Investor Day with increased confidence in its long-term growth algorithm, which was reiterated, but more certain due to the momentum with the Burger King US turnaround, the analyst tells investors in a research note. Truist further cites a clear path toward new store development for BK China with a strong new JV partner and continued momentum in Tim Horton’s Canada.
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