- Raymond James analyst Brian Vaccaro downgraded Carrols Restaurant Group Inc TAST to Market Perform from Outperform without a price target.
- Vaccaro has reduced near-term visibility following weaker U.S. Burger King comps reported by parent Restaurant Brands International Inc QSR on October 25 that will likely compound already present margin pressures related to elevated wage inflation and higher COGS.
- Restaurant Brands reported Q3 sales growth of 11.8% Y/Y.
- Price Action: TAST shares are trading lower by 1.75% at $3.92 on the last check Tuesday.
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