Wedbush Removes McDonald's (MCD) from 'Best Ideas' List; Reiterates Outperform
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An analyst at Wedbush has removed McDonald's (NYSE: MCD) shares from the firm's 'Best Ideas' List, saying that most of the "near-term catalysts have largely played out." Still, Wedbush reiterates its Outperform rating and $67 price target.
The firm also noted that while multiple expansion will be more difficult due to a "negative halo on quick-service restaurants", drivers for a Q4 earnings beat are still in place.
Shares of McDonald's are trading modestly higher, currently up 0.2% to $64.10.
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