Loop Capital keeps a Buy rating and $342 price target on McDonald’s but notes that the firm’s U.S. franchisee checks indicate same-store sales growth is tracking ahead of expectations to date in Q3. The launch of the $5 Meal Deal on June 25th generated an estimated 300-350 lift to same-store sales during the initial late June – early July period and a still solid 200-250 bps boost since mid-July, the analyst tells investors in a research note.
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