Loop Capital analyst Alton Stump lowered the firm’s price target on McDonald’s to $357 from $383 and keeps a Buy rating on the shares. The company’s Q4 earnings topped expectations, but U.S. same-store sales growth of 4.3% missed the firm’s forecast for 6.0% growth and was just below consensus at up 4.4%, the analyst tells investors in a research note. Loop adds that for U.S. comps, it is now modeling growth of 3.0% for Q1 vs. 4.0% previously and 3.8% for 2024 vs. 4.0% previously.
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