Restaurant Brands updated December 30, 2019

The report on Restaurant Brands (Tim Hortons, Burger King & Popeyes) is updated and rated (lower) Buy at Canadian $83.56. The report is in U.S. dollars and the U.S. price is $63.89.

At the last update last Summer, I thought the stock was quite expensive. Since then it is down about 17% despite reporting higher earnings in Q3. It did report a decline in same store sales at Tim Hortons in the latest quarter. But it had really strong gains at Burger King and Popeyes. The stock is not cheap but has become more attractive. I added today to my small position.

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