Market Overview

Piper Jaffray Applauds Restaurant Brands, Highlights Ongoing Momentum

Piper Jaffray Applauds Restaurant Brands, Highlights Ongoing Momentum

Restaurant Brands International Inc (NYSE: QSR) reported fourth-quarter results highlighted by better than expected same-store sales growth at Burger King and Tim Hortons.

The Analyst

Piper Jaffray's Nicole Miller Regan maintains an Overweight rating on Restaurant Brands with an unchanged $70 price target.

The Thesis

Restaurant Brands pre-announced top-line results in January while EPS came in slightly above expectations in the fourth quarter, Regan said in a research report. The company also showcased progress in operational and technology initiatives like delivery and self-order kiosks.

By segment, Tim Hortons showed its best comp performance in 10 quarters as part of management's "Winning Together" strategic plan, according to the analyst. The iconic Canadian brand's latest initiatives showed positive traction, including kids' menu, anytime breakfast and stores that were remodeled performed well.

Burger King performed well in developing and international markets, while a balanced promotional offering in the U.S. generated strong sales. Regan said the brand will see multiple improvements roll-out this year, including digital menu boards, ordering kiosks, and new product introductions.

Popeyes showed month-over-month same-store sale improvement in December due to the $20 holiday feast promotion that attracted the large order and family market. Delivery options are also driving a higher sales mix contribution.

Price Action

Shares of Restaurant Brands traded at $63.56 Tuesday afternoon.

Related Links:

McDonald's, Restaurant Brands, Chipotle Are Morgan Stanley's Top Restaurant Picks In Challenging Year For Sector

Who To Choose In Fast Food? KeyBanc Sizes Them Up

Photo credit: Stu pendousmat

Latest Ratings for QSR

Sep 2019UpgradesUnderperformNeutral
Sep 2019Initiates Coverage OnBuy
Sep 2019MaintainsOverweight

View More Analyst Ratings for QSR
View the Latest Analyst Ratings

Posted-In: Burger King Nicole Miller Regan Piper Jaffray Restaurant EarningsAnalyst Color Restaurants Analyst Ratings General Best of Benzinga


Related Articles (QSR)

View Comments and Join the Discussion!

Latest Ratings

SMLPSunTrust Robinson HumphreyMaintains6.0
SEMGSunTrust Robinson HumphreyMaintains16.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

10 Singapore Stocks To Watch On Wednesday, February 13

Cinemark Vs. AMC: Analyst Weighs In On Theater Stocks