JPMorgan a buyer of McDonald’s, sees no long term damage

JPMorgan says that with the shares down as much as 10% following the E.coli outbreak news, McDonald’s (MCD) is “now trading on emotion/worry” versus what the firm believes should result in no long term damage to the brand. JPMorgan is a buyer of McDonald’s on the selloff. McDonald’s “leading” supply chain will make quick fixes to this problem as already messaged, and JPMorgan does not expect this to engulf the U.S. or international, which has its own supply chain business, the analyst tells investors in a research note. The firm keeps an Overweight rating on the shares with a $290 price target