Restaurant Brands price target lowered to $87 from $89 at Truist

Truist lowered the firm’s price target on Restaurant Brands to $87 from $89 and keeps a Buy rating on the shares. The firm is citing the company’s EBITDA miss, though its solid comps momentum and positive U.S. traffic at Burger King and Tim Horton’s Canada outweigh the incremental risk of slowed FY24 development guidance, the analyst tells investors in a research note.