Stifel analyst Chris O’Cull lowered the firm’s price target on McDonald’s (MCD) to $300 from $315 and keeps a Hold rating on the shares. The firm evaluated year-over-year visitation performance for several restaurant chains and found mixed results among several major chains, the analyst tells investors. While the firm’s analysis confirmed comments recently made by McDonald’s and Olive Garden’s (DRI) management teams, and the firm estimates that Starbucks (SBUX) is also seeing some challenges with lower-income consumers, several restaurant chains, ranging from Chipotle (CMG) to Chili’s (EAT), appear to be performing well among this income group, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCD:
- Brinker International Stock (NYSE:EAT): Serving Value with a 0.8x PEG Ratio
- Krispy Kreme price target raised to $19 from $16 at BofA
- McDonald’s price target lowered to $335 from $340 at UBS
- Krispy Kreme upgraded to Overweight from Neutral at Piper Sandler
- Plans to Buy Israeli Franchise Prompt Slip at McDonald’s (NYSE:MCD)