McDonald’s price target lowered to $300 from $312 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on McDonald’s to $300 from $312 and keeps an Overweight rating on the shares. Citing soft near term trends, the firm is marking sales estimates lower for Q2 and Q3 and “a bit over 2% lower for the year” and thinks a potential miss is “well understood at this point,” though adds that Q2 comments “may not offer much solace.” The firm has maintained that re-establishing value is possible for McDonald’s, but is “likely not done overnight,” the analyst adds in a Q2 earnings preview note.