Restaurant Brands price target lowered to $80 from $90 at RBC Capital

RBC Capital analyst Logan Reich lowered the firm’s price target on Restaurant Brands (QSR) to $80 from $90 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 in Restaurant and Leisure sector. The firm is reducing its EBITDA estimate on higher Burger King marketing partially offset by lower G&A spending and also lowering its same-store-sales slightly with a steeper ramp given its views that an improving consumer will be more gradual and likely second-half-weighted, the analyst tells investors in a research note.