McDonald’s price target raised to $322 from $308 at BofA

BofA analyst Sara Senatore raised the firm’s price target on McDonald’s (MCD) to $322 from $308 and keeps a Neutral rating on the shares. With Q3 earnings reports “beginning in earnest” the week of October 28 for the restaurants industry, the firm’s conversations have largely been around calibrating expectations and set ups into the prints, notes the analyst, who cites market multiple expansion for the firm’s raised price targets for McDonald’s and Brinker (EAT).