UBS Updates Price Target and Estimates on McDonald's (MCD) After Temporary Same-Store Sales Setback
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Price: $102.14 +0.59%
Rating Summary:
7 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
7 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade MCD Now!
UBS maintains a 'Buy' on McDonald's (NYSE: MCD) price target of $104.00 (from $106.00).
Analyst, David Palmer, admits that a shoe did drop and there was a temporary setback in sales trends (in the U.S.).
Palmer said, "...Domestic SSS growth lagged the industry due to major brand initiatives/comebacks (e.g. Taco Bell (NYSE: YUM) and Burger King) and couponing (e.g. Wendy's). However, we view this as a temporary issue. In Europe, industry trends vary by market, but McDonald’s has taken major steps to adjust marketing, and we believe sales trends will improve in the coming months--albeit with some margin offset from value positioning."
UBS slightly lowers FY12 EPS estimates from $5.60 to $5.57 and FY13 from $6.22 to $6.15.
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 $87.75 yesterday, with a 52 week range of $80.28-$102.22.
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Analyst, David Palmer, admits that a shoe did drop and there was a temporary setback in sales trends (in the U.S.).
Palmer said, "...Domestic SSS growth lagged the industry due to major brand initiatives/comebacks (e.g. Taco Bell (NYSE: YUM) and Burger King) and couponing (e.g. Wendy's). However, we view this as a temporary issue. In Europe, industry trends vary by market, but McDonald’s has taken major steps to adjust marketing, and we believe sales trends will improve in the coming months--albeit with some margin offset from value positioning."
UBS slightly lowers FY12 EPS estimates from $5.60 to $5.57 and FY13 from $6.22 to $6.15.
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 $87.75 yesterday, with a 52 week range of $80.28-$102.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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