Under normal circumstances, a deal for free french fries at McDonald’s (NYSE:MCD) might sound like a great plan. Investors, however, were less than pleased about the giveaway and sent shares down fractionally in Monday afternoon’s trading.
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The promotion, dubbed Free Fries Friday, will allow those who use the mobile app and actually buy something valued at at least $1 to get a free medium order of french fries. It will be running every Friday for the rest of 2023, which means fewer than 10 Fridays to get in on free french fries. McDonald’s turned to this plan to help improve user rates on its mobile app and to demonstrate that, despite rampant inflation literally everywhere, McDonald’s can still offer up a decent value.
But that wasn’t the only trick McDonald’s had up its collective sleeve in a bid to get customers in play. It also released the 2023 line of Boo Buckets, a Halloween staple for the kiddy set to go out trick-or-treating on Halloween night.
Designs will be fairly similar, featuring the white mummy, the green monster, the orange skeleton, and a “purple vampire.” Also included are sticker sheets featuring goofy facial features to allow the kids some customization options.
Is McDonald’s a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MCD stock based on 22 Buys and four Holds assigned in the past three months, as indicated by the graphic below. Furthermore, the average MCD price target of $316.96 per share implies 23.86% upside potential.
