RBC Capital analyst Christopher Carril raised the firm’s price target on Restaurant Brands to $84 from $81 and keeps an Outperform rating on the shares after its Q1 results. The quarter marked a "strong" 2023 start for Tim Hortons and Burger King, with the latter’s performance easing the recent concerns around domestic franchisee profitability and health, the analyst tells investors in a research note. Q1 earnings also highlighted the renewed focus and updated strategy for Popeyes – a "key potential long-term development driver" for Restaurant Brands, RBC added.
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