- Oppenheimer analyst Brian Bittner reiterated an Outperform rating on the shares of Restaurant Brands International Inc (NYSE:QSR) with a price target of $81.
- The analyst installed QSR as one of the top picks entering 2023, anticipating a unique path for earnings upside in ’23/’24, and catalysts to accelerate unit growth above Street’s 5% forecasts.
- The analyst added that the guidance appears conservative, particularly when incorporating cold beverages, food innovation and digital momentum.
- An analysis of datapoints from peers suggests 4Q22E same-store sales are positioned for upside in both international and U.S.
- While International is performing at an elite level (SSS +20% vs 2019), the choppy domestic business finally has a strategic plan for multi-year improvement through “Reclaim the Flame,” said the analyst.
- The analyst believes the newly appointed Executive Chairman, Patrick Doyle, will bring a sharper focus to accelerate sales, improve unit economics and create shareholder value.
- The analyst sees QSR as an undervalued growth opportunity with near-term fundamental catalysts for higher earnings forecasts and multiple expansion.
- Price Action: QSR shares are trading higher by 0.06% at $67.37 on the last check Friday.
Ford Motor Q2 EPS $0.68 Beats $0.45 Estimate, Automotive Sales $37.91B Beat $34.32B Estimate, Total Sales $40.20B
Ford Motor (NYSE:F) reported quarterly earnings of $0.68 per share which beat the analyst consensus estimate of $0.45 by 51.11 percent. This is a 423.08 percent increase over earnings of $0.13 per share from the same period last year.
