McDonald's (MCD) PT Raised to $250 as Wells Fargo Expects SSS to Inflect Higher

February 22, 2021 5:40 AM EST
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Price: $231.81 -0.54%

Rating Summary:
    30 Buy, 15 Hold, 1 Sell

Rating Trend: = Flat

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    Up: 18 | Down: 20 | New: 68
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Wells Fargo raised its price target on McDonald's (NYSE: MCD) to $250.00 (from $248.00) on the belief SSS is set to inflect higher.

The analyst reiterated an Overweight rating, stating "Investors have lumped MCD into the “COVID-beneficiary” bucket of stocks to start '21, with worries about lapping 2H20 US compares stalling out stock performance YTD vs. the market (down 1.1% vs. the S&P 500 +4%%). We expect that sentiment changes sharply in the next 1-2 quarters as MCD returns to the momentum seen pre-COVID and continues to fuel the positive feedback loop with a reinvigorated social media presence, an increasingly digital relationship with customers, new products,and loyalty in 2H21. A more constructive view on the U.S. consumer only increases our confidence in SSS upside".

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