Morgan Stanley raised the firm’s price target on McDonald’s to $340 from $296 and keeps an Overweight rating on the shares. The firm is a “bit cautious” into the quarterly report as it believes better international visibility might be needed for the next leg higher, even if U.S. comments are better. However, it still sees U.S. momentum in 2025 and is taking the view that downward estimate revisions are “mostly past,” the analyst added in a Q3 earnings preview note.
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