Credit Suisse analyst Lauren Silberman raised the price target on McDonald’s to $298 from $292 and keeps an Outperform rating on the shares. The firm believes McDonald’s strength continued in Q4 and overall sentiment remains positive broadly. Further, Credit Suisse believes there could be upside to 2023/2024 estimates from cost savings from the recently announced organizational restructuring as well as FX. Looking ahead into 2023, the firm likes McDonald’s defensive business model, believes McDonald’s is well positioned to execute irrespective of the consumer backdrop, and thinks McDonald’s value leadership and operational strength should support relative resilience globally.
Published first on TheFly
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