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 (NYSE: MCD), 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.
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