Restaurant Brands International

QSR · NYSE

$75.11+$0.77 (+1.04%)TodayMarket closed · Oct 20, 5:24 PM ET

Prev close $74.34

QSR analyst rating

BuyConsensus of 21 analysts over the last 12 months. 67% rate it a buy.

Strong buy0
Buy14
Hold7
Underperform0
Sell0

12-month price target · 14 analysts

Average $86.82 (+15.6% upside)

Low: $77.77
Now: $75.11
High: $100.80

Upgrades and downgrades

The latest rating actions, newest first

QSR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Oct 20, 2026	Maintains	Neutral	$80.00 → $79.00	57%
Mizuho	Oct 20, 2026	Initiates	Outperform	$85.00	55%
Morgan Stanley	Oct 15, 2026	Maintains	Equal-Weight	$79.00 → $82.00	59%
TD Cowen	Oct 7, 2026	Maintains	Hold	$80.00 → $78.00	33%
JP Morgan	Sep 29, 2026	Maintains	Overweight	$82.00 → $78.00	64%
Argus Research	Sep 25, 2026	Downgrade	Buy → Hold	—	55%
Guggenheim	Sep 18, 2026	Maintains	Buy	$85.00 → $86.00	60%
Seaport Global	Sep 16, 2026	Initiates	Buy	$88.00	54%
Citigroup	Sep 1, 2026	Maintains	Neutral	$78.00 → $80.00	57%
Scotiabank	Aug 7, 2026	Maintains	Sector Perform	$83.00 → $81.00	37%

The case for and against

Updated Oct 14, 2026

Bull case

Restaurant Brands Intl is supported by strong underlying operating momentum, led by Burger King U.S. where +8.5% to +8.6% same-store sales and +20% Whopper AUV growth point to effective marketing, image investment, and better in-store execution. Its global footprint of more than 33,000 restaurants across over 120 markets, plus 16,403 franchised international locations at year-end 2025, provides scale, recurring franchise and property fee revenue, and diversification, while international constant-FX system sales growth of +10.7% and global net unit growth of +2.9% show continued expansion. With 2027E EPS revised to $4.35 and management-backed simplification, normalizing capex, and healthier capital returns, the business appears positioned to sustain outperformance despite a difficult QSR backdrop.

Bear case

Restaurant Brands Intl is facing a weak fundamental setup because its growth depends on international unit expansion and franchisee capital access, both of which could slow if profitability softens or macro conditions worsen. In Canada, fixed-rate mortgage resets to variable rates may pressure consumers, while slower Tims Canada performance and rising menu complexity could hurt same-store sales, service times, and guest experience. Even with about 47 billion in system sales across more than 33,000 restaurants, the stock lacks clear catalysts beyond simplification initiatives, and it may need to support BK U.S. franchisees more aggressively on reimaging investments.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.