Restaurant Brands International falls after TD Cowen downgrades to 'hold'

Restaurant Brands International

14/02/2025 15:55

** Shares of Burger King parent Restaurant Brands
International  QSR.N , QSR.TO  down about 3% in early trading
    ** TD Cowen downgrades stock to "hold" from "buy"
    ** Brokerage sees risks in Canada from immigration reform
and tariffs weighing on Tim Horton chain's successful track
record
    ** QSR beat Q4 results on Wednesday on demand for value
meals at Burger King and strength of Tim Horton in Canada
    ** Brokerage sees a lack of confidence that Burger King has
a compelling strategy to combat peers' chicken-focused menu
innovation, while company looks to fill the CMO role
    ** 14 of 22 brokerages rate the stock "buy" or higher, seven
"hold" and one "sell"; with a median PT of $78
    ** U.S.-listed shares fell 16.6% and Toronto shares fell
9.5% in 2024

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))