McDonald's (MCD) PT Raised to $320 at Baird

Baird analyst David E. Tarantino raised the price target on McDonald's (NYSE: MCD) to $320.00 (from $280.00) while maintaining a Outperform rating.

The analyst commented: "We are raising our Q3 global comps/EPS estimate mainly to reflect signs of better comps in the U.S. segment. Although visibility outside the U.S. remains low amid macro headwinds, we believe MCD's durable business model is positioned to produce relatively good results in a range of economic scenarios, and based on this outlook, we still think the risk/reward on the shares leans favorably. That said, we would be inclined to be less aggressive buyers into further strength, with an eye toward our revised $320 price target."

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