UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on McDonald's Corporation

In a report published Monday, Deutsche Bank reiterated its Buy rating on McDonald's Corporation

, but lowered its price target from $100.00 to $97.00. Deutsche Bank noted, “While MCD's 2012 results have been much weaker than we thought likely, we are sticking with our Buy rating as the cash-stable franchised business and 3.5% div. yld. suggest limited downside from here. Further, if MCD's trends are an indicator as to the overall state of consumer spending globally, this stock may increasingly be viewed as a good place to hide. Lowering ests. and PT. Maintain Buy.” McDonald's Corporation closed on Friday at $88.72.