McDonald's (MCD) PT Lowered to $225 at Baird

Baird analyst David E. Tarantino lowered the price target on McDonald's (NYSE: MCD) to $225.00 (from $230.00) while maintaining a Outperform rating.

Analyst says: "While we are somewhat disappointed that weaker-than-expected Q3 margin performance and some planned technology investments are prompting a 2% reduction to our 2020 EPS estimate, our constructive thesis on MCD is largely intact given our view that the company has the drivers in place to sustain solid comps momentum well into 2020. We believe signs of good top-line momentum along with the MCD's durable business model ultimately will help to support better sentiment on the shares as the next 6-12 months play out."

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