Piper Sandler Raises McDonald's (MCD) Q4 SSS Estimates In-Line with Consensus
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Piper Sandler analyst Nicole Miller Regan reiterated a Neutral rating and $232.00 price target on McDonald's (NYSE: MCD) while raising their 4Q21 U.S. same-store sales estimate to +7% (vs. +6% prior) which is now in-line with consensus expectations following checks.
The analyst commented, " Our updated estimate reflects benefits from pointed marketing efforts to drive value platform awareness and continued popularity around the "MyMcDonald's Rewards" program. Our estimates remain aligned with the company's prior commentary around +LDD% two-year trends in the U.S. and steady sequential two-year trends for our maintained IOM segment estimates in the +HSD% range. While the overarching environment for labor and sourcing remain challenging for the industry, our checks suggest that McDonald's is experiencing relatively improved staffing levels and minimal disruptions from a supply chain perspective of late. As it relates to FY22, our estimates remain largely unchanged. We reiterate our Neutral."
Shares of McDonald's closed at $255.65 yesterday.
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