McDonald's (MCD) PT Raised to $360 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the price target on McDonald's (NYSE: MCD) to $360.00 (from $350.00) while maintaining a Outperform rating.

The analyst comments "We attended sell-side dinner with MCD's CEO and CFO. The key focus area was U.S. Extra Value Meals launch, but other topics included broader value opportunities, beverage platform test, and technology initiatives. We came away more confident in MCD's ability to gain U.S. market share in near and long term owing to enhanced value leadership relative to competitive set, and we view financial implications of temporary marketing/franchisee support as manageable. Discussion also underscored array of medium-term U.S. comp drivers in the works. Holding estimates but raising target to $360."

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