McDonald’s price target lowered to $290 from $300 at JPMorgan

JPMorgan lowered the firm’s price target on McDonald’s to $290 from $300 and keeps an Overweight rating on the shares. While a “pivot to value” among the quick service restaurant chains is concerning many U.S. investors, a “soft landing” can be achieved as the lower-end customer is re-attracted to more pronounced entry level price points while core and premium customers remain largely un-discounted, the analyst tells investors in a research note. The firm is more confident in McDonald’s brand strategies following a European tour.