Jefferies analyst Andy Barish lowered the firm’s price target on McDonald’s to $325 from $340 and keeps a Buy rating on the shares. Valuations in quick service restaurants, or QSR, are down about 10% since July on average, notes the analyst, who sees tougher same-store comparisons ahead and valuations “leaving little room for disappointment.” The firm remains selective and prefers McDonald’s, which it thinks is best-positioned to drive share gains, the analyst tells investors.
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