Deutsche Bank Reiterates Buy Rating on McDonald's (MCD)
Deutsche Bank analyst Lauren Silberman reiterated a Buy rating and $345.00 price target on McDonald's (NYSE: MCD)
The analyst comments "MCD delivered a mixed 3Q print with a return to positive SSS in the US, still negative SSS internationally and an EPS beat largely driven by strong cost management. While near-term trends are likely to remain noisy following the recent food safety incident (recent SSS/traffic negative), MCD is clearly building traction with US SSS up nearly MSD in the first three weeks of October, reinforcing our view on underlying momentum as we move past headlines, supported by value ($5 meal deal, national value platform in 1Q25), innovation (Chicken Big Mac, Snack Wraps expected in 2025) and marketing. We expect International to recover over time as the macro improves and company initiatives support improving market share gains, and we are encouraged MCD reiterated its global unit growth outlook (seen as risk for global peers). Despite near-term headwinds, we are encouraged by recent momentum and continue to believe MCD is well positioned to outperform in what we expect to remain a challenging and value-centric environment."
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Shares of McDonald's closed at $295.00 yesterday.