Restaurant Brands International: A Great Business Facing Short-Term Challenges

Burger King and Popeye growing at attractive levels. The plan to reignite the growth of Tim Hortons sounds promising.
Leverage looks high at 4.7x but it is manageable for this type of businesses.
The refinancing efforts in the last two quarters will save 50 million annually on interest expense.
Short term negative headwinds due to the coronavirus, growth of Tim Hortons and the competition in the burger space.
I recommend buying the stock offering a 16% upside to the $78/share target price while offering a 3% dividend yield.


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