McDonald's (MCD) PT Raised to $200 at Stifel

Stifel analyst Chris O'Cull raised the price target on McDonald's (NYSE: MCD) to $200.00 (from $190.00) following recent channel checks and conversation with management.

The analyst stated "We believe the domestic SRS momentum has likely continued in 2Q driven principally by check average growth of 4-5%. The system is benefiting from ~2% pricing and favorable mix shift from promotional offerings (e.g. '2 for $5 lapping D123) and new add-on items, and digital/delivery growth. Delivery is likely to become a more meaningful contributor to domestic SRS gains as the system has expanded the service to more stores and likely introduces new partnerships as its exclusive agreement with UberEats comes up for renewal mid-year". No change to the Hold rating.

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