Baird raised the firm’s price target on McDonald’s to $320 from $280 and keeps an Outperform rating on the shares. The firm raised its Q3 global comps/EPS estimate mainly to reflect signs of better comps in the U.S. segment. Although visibility outside the U.S. remains low amid macro headwinds, they believe its durable business model is positioned to produce relatively good results in a range of economic scenarios.
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