McDonald’s price target lowered to $280 from $283 at Citi

Citi lowered the firm’s price target on McDonald’s to $280 from $283 and keeps a Neutral rating on the shares. The firm says it is difficult to see the debate shifting much post the company’s Q3 results ahead of the December investor event, as McDonald’s continues to lean into the right drivers and competitive advantages that have translated into global share gains, but that its core market growth is slowing. The analyst believes 2024 consensus estimates are likely to move lower.