Citi Downgrades Burger King Holdings (BKC) to Hold
More News related to BKC
- Burger King Holdings, Inc. to Present at the Bank of America Merrill Lynch Credit Conference
- Burger King (BKC) Declares $0.0625 Quarterly Dividend; 1.4% Yield
- Burger King Holdings Declares Quarterly Dividend
- Hungry Fans Get Taste of 'The Twilight Saga: New Moon' from Burger King Corp.
- Burger King (BKC) Announces Resignation of the Company's President, Gglobal Marketing Strategy & Innovation
Citi downgrades Burger King Holdings, Inc. (NYSE: BKC) from Buy to Hold. Price target lowered from $22 to $18.
Citi analyst says, "Based on our recent checks, we sense BKC's U.S. Same-Store Sales have moderated to negative mid-single digits in late-April/May vs. +1.6% in F3Q. We think the Street is likely expecting flat or slightly down SSS (mgmt mentioned SSS were trending up slightly in April on its F3Q conf call). We would therefore expect some near-term stock weakness if our checks prove correct. We feel much of the slowdown is attributable to continued neg. trends in BKC's breakfast biz and intensifying competitive pressure, particularly around value...We lowered our domestic F4Q SSS est to -3.0%. We are reducing F4Q and F'09 EPS est's by 2c each to $0.33 and $1.38, respectively. We are also reducing F'10 and F'11 est's by 6c and 4c to $1.51 and $1.73, respectively. Our target price is lowered to $18 from $22 due to a lower target multiple."
To see more analyst ratings on BKC Click Here.
Burger King Holdings, Inc. (BKH) is a fast food hamburger restaurant. As of June 30, 2008, the Company owned or franchised a total of 11,565 restaurants in 71 countries and United States territories, of which 1,360 restaurants were Company restaurants and 10,205 were owned by its franchisees.
Related Categories
DowngradesStocks Mentioned
+0.02Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
