Opinions
Michael Hakes - CFA, MBA
TH International
THCH-Q
TOP PICK
Apr 14, 2023
N/A
Stock price when the opinion was issued
Consumer Products
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PAST TOP PICK
(A Top Pick Apr 14/23, Down 68%)
This is Tim Horton's China. He has a 5-year time horizon in this, so don't sell it now. There were 600 Timmys in China last year, and 1,000 now. Are spending all their money on store growth so aren't profitable. They've 10 Popeyes in Shanghai, too. The overall China market has been weak. But they will execute in coming years and drive traffic to locations. Pessimism over China has driven down this stock.
Consumer Products
Very speculative stock, but likes outlook for the business.
Tim Hortons in China is underlying business.
Post Covid-19 will present opportunity for growth.
Expects profits to increase with pandemic ending.