09:25:07 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



Restaurant Brands International Inc
Symbol QSR
Shares Issued 312,053,062
Close 2024-01-18 C$ 103.57
Market Cap C$ 32,319,335,631
Recent Sedar Documents

Globe says Restaurant Brands' move on Carrols lauded

2024-01-18 08:39 ET - In the News

The Globe and Mail reports in its Thursday, Jan. 18, edition that Scotia Capital analyst George Doumet is keeping his "sector outperform" recommendation intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet elevated his share target by $3 to $77 (all figures U.S.). Analysts on average target the shares at $82.12. Mr. Doumet tweaked his share target following Restaurant Brands' $1.1-billion deal to acquire Carrols Restaurant Group, which operates 1,022 Burger King locations in the U.S. Mr. Doumet says in a note: "We view this transaction as favourable and see clear strategic alignment, as it will allow Restaurant Brands to move closer and faster toward its stated goals -- (i) making sure every BK in the U.S. has a modern look, and (ii) expanding franchisee network and working with more smaller local operators. Carrols operates 1,000 Burger King units in the U.S. Restaurant Bramds will invest $500-million in remodeling the remaining 600 units (using a part of Carrols operating cash flow over the next five years), doubling the current pace of remodels. This would have been more challenging to do for Carrols as a public company."

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