JP Morgan Maintains Overweight Rating on McDonalds

A report from J.P. Morgan reiterates its Overweight rating on McDonalds MCD. The report states, “On September 28th we first made the explicit call of preferring YUM over MCD. Developments since this time have been good for YUM in our view, but McDonald's recent results - including October comps of 5.2% in the US and an astounding 4.8% in Europe was matched with a November 10th biennial analyst conference laying the case for years of structural brand outperformance.” MCD closed yesterday at $93.65.