McDonald's (MCD) Expected to Make Quick Changes to Value Menu - RBC

RBC Capital analyst David Palmer expects McDonald's (NYSE: MCD) to make adjustments to its value marketing soon and are bumping 2018 U.S SSS estimates 50pb higher.

Palmer said while the long-term efficacy of the $1, $2, $3 menu remains in questions, they believe improvement will continue with food, asset, and convenience upgrades.

The firm maintained an Outperform rating and price target of $170 on MCD.

SI Note: Palmer was the analyst that cut estimates on MCD recently related to problems with the new value menu, sending the stock down sharply.

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 $157.24 yesterday.

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