The Globe and Mail reports in its Thursday, Aug. 10, edition that Citi analyst Jon Tower has reaffirmed his "neutral" recommendation for Restaurant Brands International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Tower gave his share target a $2 trim to $83 (all figures U.S.). Analysts on average target the shares at $79.46. Mr. Tower thinks Restaurant Brands' initiatives to boost sales on both sides of the border "continue to yield results for franchisees, franchisors and shareholders." The premarket release of its second quarter results on Tuesday exceeded expectations. Revenue of $1.78-billion beat both Mr. Tower's $1.74-billion estimate and the consensus projection of $1.6-billion, driven by stronger-than-anticipated sales in Tim Hortons Canada (11.6 per cent versus expectations of 7 per cent and 7.1 per cent). Adjusted earnings per share of 85 cents also topped forecasts (79 cents and 77 cents). Mr. Tower says in a note, "Investors were hungry for solid top-line results and the company delivered, with Restaurant Brands providing upside to revenue (fueled by TH) as well as adjusted EBITDA (primarily from the Burger King segment) to boot."