BofA raised the firm’s price target on Krispy Kreme (DNUT) to $19 from $16 and keeps a Buy rating on the shares as the firm is increasing its revenues and EBITDA estimates to account for the anticipated impact of the McDonald’s (MCD) partnership. The firm, which models 750 McDonald’s restaurants carry doughnuts in Q3 with about 1,300 units added per quarter thereafter until Q4 of 2026, notes that distribution across most of the McDonald’s U.S. system of 13,500 stores would about triple the number of points of access for Krispy Kreme in market.
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