Citi raised the firm’s price target on McDonald’s (MCD) to $336 from $334 and keeps a Buy rating on the shares. The firm expects McDonald’s Q4 comps “will likely mark a low point in recent history for the brand” as the company opens up the national value “spigot” and pushes new menu items. Citi also also sees less risk of 2025 unit growth expectations downshifting versus other global quick-service restaurants. Improving visibility into McDonald’s’s accelerating comps “should overwhelm puts/takes” to 2025 estimates, the analyst tells investors in a research note. The firm believes this sets McDonald’s up for relative share outperformance through the Q4 earnings season.
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