Goldman Sachs Downgrades McDonald's (MCD) to Neutral

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June 13, 2012 7:06 AM EDT
Get Alerts MCD Hot Sheet
Price: $272.61 --0%

Rating Summary:
    25 Buy, 23 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 8
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Goldman Sachs downgraded McDonald's (NYSE: MCD) from Buy to Neutral with a price target of $92.00 (from $100.00).

The firm lowers 2012-14 MCD EPS estimates to $5.55/$6.10/$6.75 which is below the consensus.

Goldman sees opportunities elsewhere in restaurants (i.e. Starbucks (Nasdaq: SBUX) and Chipotle Mexican Grill (NYSE: CMG))

Goldman said they continue to see McDonald's as as best-in-class, but recent SSS deceleration and the number of simultaneous headwinds are likely to persist and are too great to look through at this point.

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 $87.51 yesterday.

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