NEW YORK (TheStreet) -- Shares of Burger King Worldwide Inc. (BKW) are down -2.95% to $30.09 on very heavy trading volume after being higher in pre-market trade, as the fast food hamburger restaurant defended its acquisition of Tim Hortons (THI) as it came under criticism for its effort, backed by Berkshire Hathaway (BRK.A) billionaire investor Warren Buffett, to move the American brand to Canada, the Wall Street Journal reports.
Though many such takeovers have been struck lately in part to minimize taxes-and have been criticized by legislators and the White House for depleting the government's coffers-executives of Burger King and its owner, Brazilian private-equity firm 3G Capital Management, said the deal is aimed instead at capturing growth opportunities, the Journal said.
TheStreet Ratings team rates BURGER KING WORLDWIDE INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BURGER KING WORLDWIDE INC (BKW) a BUY. This is driven by some important positives, 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 solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."