Guggenheim analyst Gregory Francfort raised the firm’s price target on McDonald’s to $305 from $302 and keeps a Buy rating on the shares after tweaking down its full year 2023 and 2024 EPS estimates to reflect forex shifts. McDonald’s remains the firm’s Best Idea in the restaurant space as it thinks that near-term sales and earnings upside should be a catalyst for continued share price outperformance, the analyst tells investors.
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