QSR - Restaurant Brands' Fully Franchised Model Carries Minimal Earnings Risk To Cost Inflation: Analyst | Benzinga
Oppenheimer analyst Brian Bittner reiterated an Outperform rating on Restaurant Brands International Inc. (NYSE: QSR) with a price target of $83.
The analyst is remarkably upbeat about higher near-term same-store sales, or SSS forecasts, following Q2's strong print.
Backed by solid momentum from Q2 results, Q3 SSS is revised +250bps (from +5.5% to +8.0%), and Q4 SSS is revised +160bps (to +4.4%).
The estimates represent above-average revisions vs. peers and worry investors regarding the near-term expectation bar.
Bittner believes SSS carries strong ...