UPDATE: Deutsche Bank Reduces PT to $100 on McDonald's Corporation on Near Term Margin Pressures in Europe

Deutsche Bank reiterates its Buy rating on McDonald's Corporation MCD and reduces its price target from $108 to $100. Deutsche Bank comments, "On 5/31, CEO-elect Don Thompson and COO-elect Tim Fenton hosted a Q&A session for analysts. In Europe, mgmt. reiterated that increased media weight + promos around value, particularly in Germany and France, will have a negative near-term impact on margins, but MCD expects this to be offset by higher sustained guest counts and upselling over time." MCD closed at $87.18 on Friday.