Commenting on the news that the CDC has reported an E. Coli outbreak linked to McDonald’s (MCD), Wells Fargo says that while E. Coli concerns complicate an otherwise solid setup, and reputational damage represents a new risk, the firm is inclined to defend the shares this morning. McDonald’s supply chain is sophisticated and issues seemingly isolated to a single supplier, Wells argues. The firm has an Overweight rating on the name with a price target of $350.
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Read More on MCD:
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- McDonald’s downgraded to Neutral from Buy at Guggenheim
- McDonald’s downgraded to Neutral from Outperform at Baird
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