TD Cowen upgraded Restaurant Brands to Outperform from Market Perform with a price target of $75, up from $72. The analyst is bullish on Burger King’s U.S. same-store-sales upside under a new chairman and new CEO. A "capable" brand president has been granted autonomy to turn around the brand, the analyst tells investors in a research note. The firm’s base and bear cases suggest a favorable risk/reward on shares of Restaurant Brands. The "exciting narrative" of Executive Chairman Patrick Doyle provides a "floor on shares," it contends.
Published first on TheFly
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