JPMorgan analyst John Ivankoe initiated coverage of Restaurant Brands with an Overweight rating and $82 price target. The company’s focus on improving unit economics is to benefit both existing unit performance as well as add greater visibility to new store performance, which should drive improved comps, the analyst tells investors in a research note. The firm expects Restaurant Brands’s growth to be driven by the international businesses of Burger King and Tim Hortons as well as Popeyes globally.
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