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UPDATE: Bank of America Merrill Lynch Reiterates Buy Rating, Lowers PT on Tim Hortons

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In a report published Monday, Bank of America Merrill Lynch reiterated its Buy rating on Tim Hortons (NYSE: THI), but lowered its price target from $60 to $55.

BofA Merrill Lynch noted, “Tim Hortons is the market-leading Canadian QSR with an approximate 20 year track record of positive same store sales. The brand still has significant growth opportunities both in Canada, with a 4,000+ unit potential, and internationally. THI generates significant free cash flow and has been active in returning cash to shareholders through share repurchases and dividends.”

Tim Hortons closed on Friday at $46.87.

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

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