Cowen Starts McDonald's (MCD) at Market Perform

Cowen initiates coverage on McDonald's (NYSE: MCD) with a Market Perform rating and a price target of $100.00.

Analyst Andrew Charles commented, "Our proprietary consumer survey suggests fast casual is stealing share from Quick Service Restaurants (QSR), which we expect to present hurdles to MCD's sales turnaround. We believe the company will increase the franchise mix, increase leverage or limit CapEx to grow cash to return to shareholders, but the stock price will likely be overshadowed until sales turn."

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 $97.44 yesterday.

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