McDonald's (MCD) PT Raised to $300 at BMO Capital; Early in Accelerated Europe Growth

BMO Capital analyst Andrew Strelzik raised the price target on McDonald's (NYSE: MCD) to $300.00 (from $285.00) while maintaining an Outperform rating, saying it is still in the early stages of realizing accelerated European growth.

The analyst commented, "We believe MCD is in the early days of realizing accelerated growth and share gains in Europe as the pandemic propelled improvements in MCD's competitive positioning in these key IOM markets. We first outlined this opportunity in our mid-2020 deep dive. With two additional years of data in this report, 1) MCD's progress is evident, and 2) we see ample runway for MCD to continue capturing stronger performance in Europe into the future. We view this as supportive of MCD's long-term growth outlook and increase our target to $300."

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