Cowen Downgrades Restaurant Brands International (QSR) to Market Perform

Cowen analyst Andrew Charles downgraded Restaurant Brands International (NYSE: QSR) from Outperform to Market Perform with a price target of $65.00 (from $63.00).

The analyst comments "We view shares as fairly valued, trading in-line with the average of global, highly franchised peers DPZ, MCD and YUM's FY2 EV/EBITDA. We argue shares' recent outperformance seems unjustified given challenges at RBI's 2 core brands - Tim's Canada & Burger King U.S. - where sales trends lagged prior to the pandemic, and we model below Consensus Metrix 2021 comps for both segments."

For an analyst ratings summary and ratings history on Restaurant Brands International click here. For more ratings news on Restaurant Brands International click here.

Shares of Restaurant Brands International closed at $64.12 yesterday.

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