McDonald’s price target raised to $340 from $296 at Morgan Stanley

Morgan Stanley analyst Brian Harbour raised the firm’s price target on McDonald’s to $340 from $296 and keeps an Overweight rating on the shares ahead of its Q3 results. The company’s U.S. business is looking brighter, getting the stock out of its Q2 rut, though its international performance may still be challenged, driving a “mixed” quarter, the analyst tells investors in a research note. Morgan Stanley adds that it might “lean more cautiously” heading into earnings, though it sees FY25 for McDonald’s playing out similarly to this year.