Wells Fargo Starts Burger King Worldwide (BKW) at Market Perform

Wells Fargo initiated coverage on Burger King Worldwide (NYSE: BKW) with a Market Perform rating and a price target of $21-$22.

Analyst Jeff Farmer said, "We expect limited multiple expansion in FY2013 based on: (1) decelerating SSS growth in FY2013 and (2) our view that current valuation reflects BKW's guidance for margin expansion and EPS growth in FY2013 and FY2014."

For an analyst ratings summary and ratings history on Burger King Worldwide click here. For more ratings news on Burger King Worldwide click here. Shares of Burger King Worldwide closed at $20.27 yesterday, with a 52 week range of $12.91-$21.73.

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