Restaurant Brands price target lowered to $78 from $81 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Restaurant Brands to $78 from $81 and keeps a Neutral rating on the shares ahead of the Q1 report. The analyst expects the company continues to point to ongoing strength in the core Tim Horton’s Canada business and progress on the Burger King U.S. turnaround. However, like global peers, the tone on demand will remain muted, the analyst tells investors in a research note.