Piper Sandler raised the firm’s price target on Restaurant Brands (QSR) to $85 from $72 and keeps a Neutral rating on the shares ahead of quarterly results to reflect its new reporting segments as well as to incorporate the pending acquisition of Carrol’s (TAST), which is scheduled to close in the Q2 2024 time period. As it pertains to the transaction, Piper loves the deal from a strategic perspective, as it thinks it sends a very strong signal that management is not going to “shortchange” this turnaround in any way.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on QSR:
- Restaurant Brands price target raised to $74 from $65 at BofA
- Restaurant Brands price target raised to $78 from $74 at JPMorgan
- Restaurant Brands price target raised to $89 from $83 at Truist
- Carrols Restaurant downgraded to Hold from Buy at Truist
- CIBC trims Restaurant Brands target, neutral on acquisition
