McDonald's (MCD) PT Lowered to $285 at Wells Fargo

Wells Fargo analyst Jon Tower lowered the price target on McDonald's (NYSE: MCD) to $285.00 (from $300.00) while maintaining a Overweight rating.

The analyst comments "Today's relief makes sense. There's no denying that Q2 was soft, but US comps of -0.7% were better vs feared (-2%), profits relatively well maintained & QTD trends stable (albeit still negative) into easing compares (~MSD% July to Sep). While we're reigning in 2H estimates amidst a squishier global macro, value efforts appear to be resonating and MCD historically outperforms in this backdrop. All in, we see improving risk/reward at trough P/E (19x '25) & MCD's weakest Q seemingly out of the way."

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