Cowen Downgrades Restaurant Brands International (QSR) to Market Perform
- Wall St ends lower as investors await earnings, inflation data
- Microsoft (MSFT) announces $19.7 billion acquisition of Nuance (NUAN)
- Alibaba (BABA) Gets a Record $2.8 Billion Anti-Monopoly Fine, Shares Soar as a 'Major Overhang' is Lifted
- Tesla (TSLA) Upgraded to 'Buy' at Canaccord Genuity and PT Raised by 155%, as it 'Holds a Several-Year Lead' in EV While Storage Business Accelerates
- Dollar drops as traders prepare for inflation data
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
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."
Shares of Restaurant Brands International closed at $64.12 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JinkoSolar Holding Co., Ltd. (JKS) PT Lowered to $10.39 at GLJ Research
- Jefferies Downgrades Yaskawa Electric (6506:JP) (YASKY) to Hold
- Telefonica S.A. (TEF:SM) (TEF) PT Lowered to EUR3.05 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesCowen & Co
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!