Goldman Sachs Removes McDonald's (MCD) from Conviction Buy List

Goldman Sachs downgraded McDonald's (NYSE: MCD) from Conviction Buy to Buy with a price target of $110 (down from $114), saying they see more attractive opportunities elsewhere. Also, Goldman said there is little visibility towards near-term catalysts.

Goldman is maintaining a Buy rating as the company is executing extremely well and they expect ongoing share gains to continue.

Goldman lowered 2012-2014 EPS estimates to $5.76/$6.52/$7.33 from $5.84/$6.62/$7.44 primarily to reflect more conservative margin assumptions given recent management commentary.

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 $99.40 yesterday.

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