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Restaurant Brands initiated with an Equal Weight at Wells Fargo
The Fly

Restaurant Brands initiated with an Equal Weight at Wells Fargo

Wells Fargo analyst Zachary Fadem initiated coverage of Restaurant Brands with an Equal Weight rating and $70 price target. Appointing Patrick Doyle as chairman adds optionality despite deteriorating fundaments and falling margins, but heavy lifting at Burger King remains, Tim’s is still finding its way, and the firm sees the near-term path to EPS upside less clear with incremental investment a likely possibility, Wells Fargo tells investors in a research note.

Published first on TheFly

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