Goldman Sachs Downgrades Tim Hortons (THI) to Neutral
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Price: $85.92 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Tim Hortons (NYSE: THI) from Buy to Neutral with a price target of $57 (down from $58).
While the firm is still positive on the stock, they said their are better Restaurant investment opportunities elsewhere. Goldman also notes they are mindful of recent soft traffic trends in the company’s home Canadian market, although it is unclear if these trends are transient or driven by fundamental issues such as increased competition or impending saturation.
Also, unlike Starbucks (Nasdaq: SBUX), THI would see almost no benefit from falling coffee prices given its 99% franchised operating structure.
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 $54.69 yesterday.
While the firm is still positive on the stock, they said their are better Restaurant investment opportunities elsewhere. Goldman also notes they are mindful of recent soft traffic trends in the company’s home Canadian market, although it is unclear if these trends are transient or driven by fundamental issues such as increased competition or impending saturation.
Also, unlike Starbucks (Nasdaq: SBUX), THI would see almost no benefit from falling coffee prices given its 99% franchised operating structure.
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 $54.69 yesterday.
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