Restaurant Brands (QSR) Stock Forecast & Price Target

Restaurant Brands Intl is supported by strong underlying operating momentum, led by Burger King U.S. comp growth of +8.5% in 2Q26 and Whopper AUVs up +20% y/y, which suggest the brand’s marketing, digital, and in-store execution are gaining traction. The company also posted International constant FX system sales growth of +10.7% and global net unit growth of +2.9%, while its large scale of about $47 billion in system sales across more than 33,000 restaurants and 120 markets provides diversification and defensive resilience. With earnings estimates rising to 2027E EPS of $4.35 and capital returns expected to accelerate after 2025, the outlook remains constructive as turnaround momentum and international expansion support long-term growth.

Restaurant Brands Intl is facing a cautious fundamental backdrop because strong Burger King sales trends are offset by slower Tim Hortons same-store sales in 2Q, softer Canadian macro conditions, and pressure points at Popeyes and international markets. Its business is also exposed to cost and mix risks, since elevated oil prices can pressure 4Q and 1Q results, while the Tim Hortons supply chain is pass-through and does not create incremental profit, limiting upside from higher revenue. Even with about $47 billion in system sales across more than 33,000 restaurants, the outlook remains restrained by risks to unit growth, franchisee economics, and limited catalysts beyond simplification efforts like Carrols re-franchising and Reclaim the Flame.