Barclays raised the firm’s price target on McDonald’s (MCD) to $362 from $360 and keeps an Overweight rating on the shares as part of a Q3 preview for the restaurant group. Comparable sales were “choppy” in the quarter, slowing in September despite an uptick in value offers, with fast casual most impacted, the analyst tells investors in a research note. The firm adds that food inflation spiked for select items, with some restaurants reverting to price despite ongoing traffic weakness.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCD:
- McDonald’s price target lowered to $375 from $381 at Citi
- Positive Outlook on McDonald’s: Buy Rating Driven by Strategic Growth and Market Share Gains
- Amazon Stock (AMZN) Holds Flat as Cloud Glitch Hits Snapchat, Coinbase, Others
- McDonald’s Positioned for Growth Amid Challenges: Strategic Initiatives and Global Market Share Gains Drive Buy Rating
- AWS Outage Knocks Apps Offline: Which Companies Got Hit?