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UPDATE: Credit Suisse Upgrades Tim Hortons

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Analysts at Credit Suisse upgraded shares of Tim Hortons (NYSE: THI) from Underperform to Neutral with an $89 price target on Wednesday.

For the second quarter, Tim Hortons posted EPS of $0.92 per share, topping estimates of 0.86 per share by seven percent.

Revenue for the second quarter came in at $874.30 million, beating estimates of $839.70 million by four percent.

Analysts at Credit Suisse see improving free cash flow (FCF) from the combined companies as well; if managed properly, could dramatically shorten its debt repayment plan.

Currently, the deal is not finalized. Consequently, analysts view the main risk pertaining to Tim Horton shares is if the deal does not close.

Shares of Tim Hortons traded recently at $79.93, down 1.3 percent.

Latest Ratings for THI

Aug 2014Raymond JamesDowngradesOutperformMarket Perform
Aug 2014KeyBancDowngradesBuyHold
Aug 2014Credit SuisseUpgradesUnderperformNeutral

View More Analyst Ratings for THI
View the Latest Analyst Ratings

Posted-In: Credit SuisseUpgrades Price Target Analyst Ratings


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