McDonald’s price target raised to $345 from $305 at UBS

UBS analyst Dennis Geiger raised the firm’s price target on McDonald’s to $345 from $305 and keeps a Buy rating on the shares. McDonald’s is increasingly well-positioned for an improved U.S. sales trajectory over the balance of 2024 and into 2025 given recently building momentum and a compelling catalyst path, the analyst tells investors in a research note. McDonald’s maintains levers to deliver market share gains even as macro headwinds and sales pressures continue to impact category growth, and the firm’s latest franchisee conversations highlight improving traffic and sales trends, driven by contribution from the $5 meal, recent marketing activity, and better underlying momentum.