McDonald's (MCD) Q1 SSS Estimate Raised at Nomura

Nomura Securities analyst Mark Kalinowski raised his Q1 U.S. same-store sales estimate on McDonald's (NYSE: MCD) to +4.6% and reiterated a Buy rating price target of $138.

Kalinowski commented, "Based on the results from our McDonald's Franchisee Survey, we raise our Q1 U.S. same-store sales forecast by 80bp, to +4.6%. This is equivalent to the Consensus Metrix forecast of +4.6%, although buyside expectations may be more around the +5.0% level. In addition, we raise our Q2 U.S. same-store sales forecast by 120bp, to +3.7%, 20bp below the Consensus Metrix figure of +3.9%. Being mindful of adverse currencies, we keep intact our Q1 and Q2 EPS estimates of $1.17 and $1.38, respectively. Each of these forecasts is currently $0.01 above consensus. Shares of MCD continue to be our top large-cap restaurant-stock pick for 2016."

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 $128.85 yesterday.

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