KeyBanc Downgrades Tim Hortons (THI) to Hold
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Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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KeyBanc downgraded Tim Hortons (NYSE: THI) from Buy to Hold.
Analyst Christopher O'Cull said, "Following the announcement Tim Hortons has entered into a definitive agreement to be acquired by Burger King Worldwide, Inc. (BKW-NYSE; not covered) and based on the implied price of C$92.75 (using option comprised of C$65.50 in cash and 0.8025 common shares of NewCo per share of THI) vs. our price target of C$90, we are downgrading shares to HOLD from BUY. The transaction is expected to close in late 2014/early 2015, and we see minimal risk of any regulatory issues."
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 $81.05 yesterday.
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