UPDATE: Atlantic Equities Upgrades McDonald's (MCD) to Overweight
Get Alerts MCD Hot Sheet
Rating Summary:
28 Buy, 18 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Atlantic Equities analyst Edward Lewis upgraded McDonald's (NYSE: MCD) from Neutral to Overweight with a price target of $278.00 (from $245.00).
The analyst comments "As the global consumer softens, companies who operate resilient business models and also have a wealth of experience at managing through such challenging periods come to the fore. McDonald’s is such a name with a dominant position in the global QSR category, which has remained resilient during periods of consumer softness, and decades of experience at managing through such periods across what is now a stable of >40k units. Adding to the company's appeal are the positive changes it has been undertaking as it becomes largely a franchise business, accelerated by the Russia exit, and as digital, with all its positive tailwinds around ticket, loyalty and marketing, plays an ever more important part. Consequently, we upgrade shares to Overweight and raise our price target to $278."
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 $242.83 yesterday.
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