McDonald’s price target lowered to $310 from $327 at Citi

Citi lowered the firm’s price target on McDonald’s to $310 from $327 and keeps a Neutral rating on the shares. The last time the stock has had this level of negative reaction to earnings was Q3 of 2019, though with the Street numbers likely resetting lower and the management’s more cautious tone on the U.S. and global consumer, this was not surprising, the analyst tells investors in a research note. McDonald’s will continue to lean into digital and scale advantages to drive share gains, but a ramp in industry value messaging and continued global uncertainty likely remain overhangs on the multiple, the firm added.