Restaurant Brands (QSR): Refinance Opportunity Suggest Earnings Upside - Piper Jaffray
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Piper Jaffray analyst, Nicole Miller Regan, reiterated her Overweight rating on Restaurant Brands International (NYSE: QSR) and her price target of $52.
The analyst stated "We are modeling an incremental $0.45/share of earnings power related to our FY18/19 estimates with our model now projecting funded debt replacing the current ~$3 billion of preferred. When applying a similar PE multiple to our now $2.45/share FY19 estimate, a ~12% discount is applied to achieve our current valuation target. We reiterate our OW rating and $52 PT on QSR shares."
Shares of Restaurant Brands International closed at $46.87 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change
Related EntitiesPiper Jaffray, Earnings, Nicole Miller Regan
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