The Globe and Mail reports in its Wednesday, April 29, edition that Scotia Capital analyst John Zamparo is continuing to rank Restaurant Brands International "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo hiked his share target to $81 from $71 (all figures U.S.). Analysts on average target the shares at $83. Mr. Zamparo says in a note: "We raise SSS [same-store sales] estimates on strong data for BK and what we expect will be resilience at Tim Hortons despite early quarter weather headwinds. Since Investor Day, Restaurant Brands' shares are up 13 per cent, which we attribute to improving BK sales and investor day incremental positives (capital returns, deleveraging, 13-per-cent-plus TSR target, RH wind-down, BK ad fund extension). We remain somewhat cautious given what we view as aggressive unit growth targets amid macro, geopolitical, and consumer pressures. We believe further upside will require clearer evidence of sustained growth and continued simplification through the year." The Globe reported on Feb. 4 and April 23 that Citi analyst Jon Tower rated Restaurant Brands "neutral." It was then worth $69.29.
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