McDonald's (MCD) PT Raised to $225 at Piper Sandler
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Piper Sandler analyst Nicole Miller Regan raised the price target on McDonald's (NYSE: MCD) to $225.00 (from $209.00) while maintaining a Neutral rating.
The analyst commented, "The Piper Sandler Consumer platform has published two surveys. Today is our COVID Consumer Behavior #6 report that illustrates orders through the most profitable quick-service channels (drive-thru, order ahead) are gaining share. In addition, hamburger remains the most preferred cuisine when considering off-premise dining. Last week, we published our Spring 2021 TSWT survey. McDonald's commands a Top 5 spot in most cases, however at declining levels of mindshare. We have taken a risk in terms of our investment recommendation remaining on the sidelines. And while there has been merit on a relative basis, we find ourselves again in a position of raising our pice target on an absolute basis. We maintain our Neutral rating while revising our price target to $225 on MCD shares. We find ourselves less convinced in nearer-term upside, but recognize its long-term global brand equity; and remain more sensitive to any price pullback."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
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