McDonald’s price target raised to $323 from $296 at Argus

Argus raised the firm’s price target on McDonald’s to $323 from $296 and keeps a Buy rating on the shares after its Q4 earnings beat. The company should be able to navigate an inflationary environment better than its peers given its buying power and financial strength, and based on the current economic environment, more consumers will likely choose McDonald’s value menus over the more expensive fare offered by full-service restaurants, the analyst tells investors in a research note. Argus is also raising its FY24 EPS view on the stock by 4c to $12.88 while setting its FY25 target at $14.20.