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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.
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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.