Citi analyst Jon Tower raised the firm’s price target on Restaurant Brands to $85 from $74 and keeps a Neutral rating on the shares. The analyst also opened a “30-day positive catalyst watch” on the shares. The firm sees upside to Street estimates for Restaurant Brands’ Burger King U.S. comps in Q2. In the Q2 reports from restaurants, Citi expects more evidence suggesting that industry demand remains relatively healthy and that input prices, while still elevated versus history, have continued to ease.
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