McDonald’s franchisee checks show accelerated comps, says Loop Capital

Loop Capital analyst Alton Stump keeps a Buy rating and $383 price target on McDonald’s while noting that the firm’s latest U.S. franchisee checks indicate same-store sales growth accelerated nicely over the last six weeks against less challenging compares. Per the firm’s contacts, same-store sales accelerated from 3.0%-3.5% growth during the first two plus weeks of Q3 to up 6.0.-6.5% over the last six weeks, and if this recent pace continues through the end of Q4, comps will be up in a 5.5%-6.0% range for the full quarter, ahead of its current estimate for 5.0% growth, the firm tells investors in a research note.