RBC Capital Raises Price Target on Restaurant Brands (QSR) to $54

RBC Capital reiterated an Outperform rating on Restaurant Brands International (NYSE: QSR), and raised the price target to $54.00 (from $49.00), following the company's 3Q earnings report. 2016 and 2017 EPS estimates were raised from $1.49 and $1.69 to $1.54 (cons. $1.54) and $1.72 (cons. $1.77), respectively.

Analyst David Palmer commented, "Following the company's 3Q EPS beat, we are raising our price target to $54 (from $49) based on substantially higher free cash flow estimates. We estimate that diminishing capital spending and interest costs, along with improving international SSS, should lead to $2.60/share in free cash flow in 2018e (~5% of our one-year price target)."

For an analyst ratings summary and ratings history on Restaurant Brands International click here. For more ratings news on Restaurant Brands International click here.

Shares of Restaurant Brands International closed at $44.67 yesterday.

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