RBC Capital Markets lowered its price target on Restaurant Brands International (QSR.TO, QSR) to $85 from $90.

Analyst Logan Reich maintained an Outperform rating on shares of the parents of Tim Hortons and Burger King chains.

"We're somewhat cautious on the stock given that macro pressures in Canada appear to be having an outsized impact on consumers relative to the US," Reich said in a note to clients. Also, competition is rising mainly from McDonald's (MCD) and Starbucks (SBUX), "particularly on cold beverages, where we estimate TH's hot beverage sales declined in Q1," Reich said.

"Positively, Burger King momentum appears to be continuing, and we see a long runway remaining, though the brand made up only 18% of the company's EBIT in Q1, less than half of TH's."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)