McDonald’s price target lowered to $300 from $325 at Stephens

Stephens analyst Joshua Long lowered the firm’s price target on McDonald’s to $300 from $325 but keeps an Overweight rating on the shares. The company’s Q3 results were strong and the McDonald’s business continues to execute despite macro concerns, the analyst tells investors in a research note. The firm further states that it remains encouraged by the strength of the recent operational performance and strategic positioning of the company, though Stephens is also moderating its Q4 U.S. same-store sales estimate to +3.5% vs. its prior estimate of +4.5% on account of challenging laps during the October time frame.