KeyBanc Upgrades Tim Hortons (THI) to Buy as Management Looks to Canada for Improvement
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Price: $85.92 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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KeyBanc upgraded Tim Hortons (NYSE: THI) from Hold to Buy with a price target of $75.00. Analyst Christopher O'Cull thinks management will rejuvenate sales in Canada.
"Our upgrade is based on our view that Tim Hortons new CEO Marc Caira has increased the sense of urgency for improving SRS at the Canadian restaurants, which represent about 90% of system sales and 99% of profits, and will elevate the quality of brand management of an already healthy restaurant chain that has significant resources for implementing improvements," said O'Cull.
"The Company recently unveiled a five-year plan that focused on growing sales at existing restaurants through food innovation, better menu management, new value strategies, improved service and using technology to enhance the guest experience. Although the Company is in the early stages of rejuvenating sales in Canada, we believe there are catalysts that will drive its stock price toward our $75 target during the next 12 months," he added.
For an analyst ratings summary and ratings history on Tim Hortons click here. For more ratings news on Tim Hortons click here.
Shares of Tim Hortons closed at $56.14 yesterday.
"Our upgrade is based on our view that Tim Hortons new CEO Marc Caira has increased the sense of urgency for improving SRS at the Canadian restaurants, which represent about 90% of system sales and 99% of profits, and will elevate the quality of brand management of an already healthy restaurant chain that has significant resources for implementing improvements," said O'Cull.
"The Company recently unveiled a five-year plan that focused on growing sales at existing restaurants through food innovation, better menu management, new value strategies, improved service and using technology to enhance the guest experience. Although the Company is in the early stages of rejuvenating sales in Canada, we believe there are catalysts that will drive its stock price toward our $75 target during the next 12 months," he added.
For an analyst ratings summary and ratings history on Tim Hortons click here. For more ratings news on Tim Hortons click here.
Shares of Tim Hortons closed at $56.14 yesterday.
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