NEW YORK (TheStreet) -- Tim Hortons (THI) shares are up 1.6% to $60.10 on Thursday after it was upgraded to "outperform" from "market perform" by analysts at BMO Capital, who raised their price target to $74 from $62.
The firm cited the fast food restaurant's second quarter earnings beat as the reason for the upgraded outlook.
Tim Hortons reported earnings of C92 cents per diluted share, C5 cents better than analysts were expecting for the quarter.
TheStreet Ratings team rates TIM HORTONS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TIM HORTONS INC (THI) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: THI Ratings Report