Barclays raised the firm’s price target on McDonald’s (MCD) to $325 from $300 and keeps an Overweight rating on the shares as part of a Q3 earnings preview for the restaurant group. Comps eased to start Q3 before stabilizing at lower levels, the analyst tells investors in a research note. The firm says that while all are vulnerable to a lower-income consumer, quick service’s value push has been effective. Otherwise, inflation and pricing continue to ease, adds Barclays.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MCD:
- McDonald’s vs. Starbucks: Which Restaurant Stock Is a Better Buy Ahead of Earnings?
- McDonald’s price target raised to $322 from $308 at BofA
- Brinker price target raised to $94 from $90 at BofA
- McDonald’s price target raised to $350 from $285 at Wells Fargo
- McDonald’s franchisee checks suggest Q3 comps ahead of expectations, says Loop