Stifel stays Buy on Restaurant Brands International (QSR): shift toward 'less complex model' not reflected in valuation
Stifel analyst Chris O'Cull reiterated a Buy rating and $90.00 price target on Restaurant Brands International (NYSE: QSR)
The analyst commented, " After recently speaking with management, we reiterate our Buy rating and $90 target price on QSR, as the company works to reduce business model complexity and leverage improved execution at BK U.S. to maximize marketing returns and accelerate the turnaround. Our Buy thesis rests on the "de-risking" of the global portfolio, continued solid performance at Tims, accelerating global unit growth (~3.8% expected in 2026), and activating lapsed users at BK U.S. to deliver durable comps. We believe these actions will deliver consistent 8%+ organic AOI growth. We argue that the current valuation does not fully reflect the shift toward a less complex model with an investment-grade profile that we expect will unlock significant capital-return flexibility through dividends and resumed share repurchases."
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Shares of Restaurant Brands International closed at $74.26 yesterday.
