McDonald’s price target lowered to $342 from $350 at Truist

Truist lowered the firm’s price target on McDonald’s (MCD) to $342 from $350 but keeps a Buy rating on the shares after its Q3 results. The company’s accelerating U.S. comps in Q3 and October, before the e. coli outbreak, gives the firm confidence that its global focus on value, menu innovation, and marketing will drive market share gains and improved comps throughout FY25, the analyst tells investors in a research note, adding that the firm expects the sales drag from the e. coli outbreak in the U.S. to be short-lived with a return to positive comps in the coming weeks.