The Globe and Mail reports in its Friday, Jan. 12, edition that CIBC World Markets analyst John Zamparo, after assuming coverage on Restaurant Brands International, reaffirmed the firm's "outperformer" recommendation, touting a "positive" outlook for 2024. The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo gave his share target a $6 boost to $88 (all figures U.S.). Analysts on average target the shares at $81.18. Mr. Zamparo says in a note: "We are positive on Restaurant Brands' outlook for 2024. Significant firepower remains in the Burger King (BK) U.S. reinvestment plan, Tim Hortons (TH) can take market share through menu innovation and growth in underpenetrated day parts, and we believe the company can return to 5-per-cent unit growth, even as peers have closed the gap. Valuation is fulsome at 22.2 times 2024E EPS. However, we believe EPS growth has upside (CIBC estimates up 10 per cent in 2024 vs. consensus up 6 per cent). We favour Restaurant Brands' defensive business model, and the brands' ability to persevere in tougher economic times." The Globe reported on Nov. 8 that BMO Capital analyst Andrew Strelzik rated Restaurant Brands "outperform." It was then worth $68.17.