THI Posts Strong Q1 Results

Analysts at Jesup & Lamont maintain their "buy" rating on Tim Hortons Inc (NYSE: THI). The target price for THI is set to $41.

THI posted its Q1 earnings ahead of the consensus expectations. According to Jesup & Lamont, “the company has consolidated the operations of its 50-50 bakery joint venture (previously accounted for under the equity method) as well as an additional ~150 non owned restaurants (on top of the ~120 non-owned restaurants previously consolidated).” However, the company is yet to release its historical financial statements.

“The TIMWEN partnership, which leases real-estate to Tim Hortons/Wendy’s combination restaurants in Canada, will continue to be recorded as equity income,” the analysts add.

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