McDonald’s price target raised to $301 from $275 at Citi

Citi analyst Jon Tower raised the firm’s price target on McDonald’s to $301 from $275 and keeps a Neutral rating on the shares. The shares have re-rated post the Q2 results on the back of improving U.S. high-frequency data, the extension of the U.S. value menu to December, and impending new product news, the analyst tells investors in a research note. The firm believes these will likely result in upside to Q3 and Q4 U.S. Street comp expectations. Inflation less of a year-over-year factor than it has been for McDonald’s, adds Citi.