Restaurant Brands International (NYSE:), the company behind such names as Burger King, Popeye’s Louisiana Chicken, and Tim Hortons, looks a bit cheap.

Indeed, truly remarkable value is harder to come by on the these days. The latest Delta-driven COVID-19 increase is putting pressure on fast-food businesses.

Restaurant Brands is a late laggard, but I am optimistic about the future and believe the company can catch up with its better-performing, more costly competitors. QSR stock has my endorsement. (See QSR stock charts on TipRanks)

Restaurant Brands Trails the Pack

Despite ongoing COVID-19 pandemic-related disruptions, industry leaders like McDonald’s (NYSE:) and Chipotle Mexican Grill (NYSE:) are still near their respective all-time highs, while QSR stock is still down over 20% from its all-time high.

What are the best things McDonald’s and Chipotle have done?

Both companies have focused on what they can control, despite the dire situation. It doesn’t matter if we’re talking McDonald’s with its celebrities or Chipotle’s massive delivery drive, both businesses are capable of succeeding, regardless of the ongoing pandemics.

Restaurant stocks will benefit if the pandemic becomes endemic. The formula to a growing fast-food stock will depend on which company has perfected its “Three Ds”, which are delivery, drive-thru and digital apps. It is less important about the fourth D, dining rooms.

Menu Innovation

Burger King recently announced its intent to ban 124 artificial ingredients from its menu. This burger company is trying to build a good reputation. This could give Chipotle cause for concern as it continues to push.

Popeye’s with its popular sandwich and Tim Hortons could help QSR stock move higher.

Wall Street’s Take

According to TipRanks’ analyst rating consensus, QSR stock comes in as a Moderate Buy. Nine Buys are listed, while five Holds and one Sell make up the 15 analyst ratings.

The average QSR price target is $74.04. The price targets of analysts range from $59 to $86 per share.

Disclosure: Joey Frenette held shares in Restaurant Brands, McDonald’s and other companies at the time this article was published.

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