RBC Boosts Restaurant Brands International's Price Target to US$90 from US$83
RBC Capital Markets on Monday raised Restaurant Brands International's (QSR.TO) price target to US$90 from $83 with an outperform rating.RBC said QSR's positive momentum continued through the first quarter, where Burger King and international segments have been the standouts recently.According to RBC, Burger King US has further room for improvement due to ongoing renovations, menu innovation, and more impactful marketing targeted towards key demos.RBC said international strength has been broad-based across key Burger King markets, where consensus expectations appear relatively conservative.Meanwhile, Tim Hortons could start to be impacted by slower Canadian population growth and despite its recent outperformance, the stock has further room for upside, RBC said.Restaurant Brands traded at $78.92 per share at last look Tuesday on the New York Stock Exchange.Price: $107.52, Change: $-0.21, Percent Change: -0.19%