Deutsche Bank Cuts PT and Estimates on McDonald's (MCD); Reviewing May Sales

Deutsche Bank maintains a 'Buy' on McDonald's (NYSE: MCD) price target of $100.00 (from $108.00).

Analyst, Jason West, said, "Despite material f/x and Europe exposure, we believe MCD shares will reward patient investors over time as the core business drivers remain intact (asset reinvestment, best-in-class ops). Valuation is also at low end of trading range (15x NTM P/E vs. 2-yr range of 14x-18x)."

West cuts FY12 EPS estimate from $5.58 to $5.52 and FY13 from $6.19 to $6.15. FY12 revenues lowered from $28.2 bln to $27.7 bln.

For an analyst ratings summary and ratings history on McDonald's click here. For more ratings news on McDonald's click here.

Shares of McDonald's closed at $86.71 yesterday.

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