McDonald’s (NYSE:MCD) restaurant outlets in many parts of the world suffered a technology outage on Friday that disrupted operations. However, some of the fast food chain’s restaurants were back online at the time of writing.
McDonald’s Response
The fast-food company assured customers that this incident was not a cybersecurity one and added that the tech issue was being resolved. Many of the company’s restaurants in countries such as Japan, the UK, Canada, and Australia experienced outages. In Japan, MCD’s restaurants were hit by the outage and they stopped taking in-person and mobile customer orders.
MCD restaurants in the UK and Ireland were fully back online at the time of writing, while McDonald’s Australia also reopened most of its restaurants. McDonald’s has around 40,000 outlets worldwide, with more than 14,000 restaurants in the United States.
What is MCD’s 12-month Price Target?
Analysts remain cautiously optimistic about MCD with a Moderate Buy consensus rating based on 18 Buys and eight Holds. MCD stock has gone up by more than 7% over the past year and the average MCD price target of $323.24 implies an upside potential of 14.7% at current levels.
