Report
R.J. Hottovy
EUR 100.00 For Business Accounts Only

RBI's Long-Term Potential Intact as Tim Hortons and Burger King Top-Line Drivers Evolve

We believe investors should focus on two areas coming out of Restaurant Brands' second-quarter update. The first is Tim Hortons, where despite tepid comps (0% system, 0.3% in Canada), there are indications top-line improvement plans are gaining steam. Building on its three-pronged "product excellence/restaurant experience/brand communications" plan, the company launched Breakfast Anytime across Canada last week. We're not expecting the same lift that McDonald's saw with its all-day breakfast, wh...
Underlying
Restaurant Brands International Inc

Restaurant Brands International is a holding company. Through its subsidiaries, Co. is engaged as a quick service restaurant (QSR) company with over 20,000 restaurants in approximately 100 countries and U.S. territories as of Dec 31 2016. Co.'s Tim Hortons® and Burger King® brands have similar franchise business models with complementary daypart mixes. Tim Hortons restaurants are QSRs with a menu that includes coffee, tea, espresso-based hot and cold drinks, baked goods, including donuts, Timbits®, bagels, sandwiches, soups and more. Burger King restaurants are QSRs that feature flame-grilled hamburgers, chicken and other sandwiches, french fries, soft drinks and other food items.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
R.J. Hottovy

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