Burger King invests another $300 million to remodel restaurants
Written by Emily J. Thompson, Senior Investment Analyst
Source: CNBC
- Burger King's Investment: Burger King plans to invest $300 million to remodel 1,100 U.S. restaurants as part of a turnaround effort.
- Previous Investments: The parent company previously invested $250 million in renovations and $150 million in the mobile app and advertising.
- Acquisition Impact: Restaurant Brands International acquired Carrols Restaurant Group for $1 billion to accelerate remodeling, with an additional $500 million for 600 Carrols' locations.
- Total Investment: Restaurant Brands aims to spend $2.2 billion on revitalizing Burger King's U.S. business, targeting modern designs in 85% to 90% of its 7,000 U.S. restaurants by 2028.
- Remodeling Strategy: The new "Sizzle" design will feature drive-thru pickup for mobile orders and self-order kiosks to boost sales of Whoppers and fries. Franchisees will receive incentives for remodeling.
Analyst Views on QSR
Wall Street analysts forecast QSR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QSR is 76.71 USD with a low forecast of 65.00 USD and a high forecast of 86.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
8 Buy
7 Hold
1 Sell
Moderate Buy
Current: 69.530
Low
65.00
Averages
76.71
High
86.00
Current: 69.530
Low
65.00
Averages
76.71
High
86.00
About QSR
Restaurant Brands International Inc. is a quick-service restaurant company. It franchises and operates quick-service restaurants serving coffee and other beverage and food products. Its segments include Tim Hortons (TH), Burger King (BK), Popeyes Louisiana Kitchen (PLK), Firehouse Subs (FHS), International (INTL) and Restaurant Holdings. Tim Hortons is a coffee and baked goods restaurant chain in North America. Tim Hortons restaurants also serve a variety of hot and cold specialty beverages alongside breakfast, lunch and dinner offerings, including sandwiches, wraps, flatbread pizzas, and more. Burger King is a quick-service hamburger restaurant chain and is Home of the Whopper. Burger King restaurants feature flame-grilled hamburgers, chicken and other specialty sandwiches. Popeyes is a quick-service chicken concept, and delivers guests a Louisiana-style menu featuring fried bone-in chicken, chicken sandwiches, chicken tenders, wings, fried shrimp and regional items.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
