RBC Capital Raises Price Target on Restaurant Brands (QSR) to $54
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RBC Capital reiterated an Outperform rating on Restaurant Brands International (NYSE: QSR), and raised the price target to $54.00 (from $49.00), following the company's 3Q earnings report. 2016 and 2017 EPS estimates were raised from $1.49 and $1.69 to $1.54 (cons. $1.54) and $1.72 (cons. $1.77), respectively.
Analyst David Palmer commented, "Following the company's 3Q EPS beat, we are raising our price target to $54 (from $49) based on substantially higher free cash flow estimates. We estimate that diminishing capital spending and interest costs, along with improving international SSS, should lead to $2.60/share in free cash flow in 2018e (~5% of our one-year price target)."
Shares of Restaurant Brands International closed at $44.67 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings
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