McDonald's (MCD) PT Lowered to $285 at RBC Capital

RBC Capital analyst Logan Reich lowered the price target on McDonald's (NYSE: MCD) to $285.00 (from $290.00) while maintaining a Sector Perform rating.

The analyst commented: "We attended MCD’s investor day yesterday at the company’s global HQ in Chicago, with presentations from senior management including in-depth overviews of the company’s growth and margin drivers, a tour of the new restaurant model, and a fresh set of long-term financial targets. We came away from yesterday's event with a better understanding of MCD’s strategy to drive growth over the next several years. However, the company’s unit growth outlook through 2030 was below consensus and store and technology investments was likely larger than expected, which drove shares nearly 5% lower yesterday. We think US SSS could continue to be pressured. We lower 3Q US SSS estimates slightly and roll out estimates through 2030. Our PT comes down to $285, and we remain Sector Perform until we get better visibility on a US traffic inflection."

You May Also Be Interested In

• McDonald's (MCD) PT Lowered to $260 at JPMorgan Following Analyst Day
• BMO Capital Reiterates Market Perform Rating on Meta Platforms Inc. (META)
• Cintas (CTAS) PT Raised to $235 at UBS Following Beat-and-Raise Quarter