TD Cowen 'Summarizing Recent Expert Conversations' on McDonald's (MCD)

TD Cowen analyst Andrew Charles reiterated a Hold rating and $300.00 price target on McDonald's (NYSE: MCD).

The analyst commented: "Summarizing Recent Expert Conversations: We balance the need for McDonald's operators to invest in labor for upcoming hospitality & menu innovation initiatives, and ultimately remodels, with the challenged state of 2026 cash flows from a litany of headwinds. We remain Hold-rated given our Street-low 2026E U.S. same store sales. We look for more insights around the financial structure of remodels at the 9/23 Analyst Day.

We are encouraged that checks suggest the May 6 specialty beverage launch is driving an improvement in transactions amid a growing U.S. beverage category that allows for growth of multiple incumbents. That said, our expert conversations suggest that the food attachment rate of the high-margin beverage transactions was not as high as anticipated, leading us to believe that same store sales contribution might be muted vs the initial LSD% expectation."

For an analyst ratings summary and ratings history on McDonald's click here. For more ratings news on McDonald's click here.

Shares of McDonald's closed at $284.77 yesterday.

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