UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on McDonald's Corporation
In a report published Monday, Goldman Sachs Group reiterated its Neutral rating on McDonald's Corporation (NYSE: MCD), and raised its price target from $89.00 to $92.00.
Goldman Sachs noted, “MCD reported global November SSS of 2.4%, above the 0.2% consensus and above our 0.1% expectation. SSS were 1.2% when adjusted for trading days. Two-year SSS, when adjusted for trading days, were 8.4%, a step up from the 6-7% run rate over each of the last four months. We are cautiously optimistic, but remain on the sidelines given uncertainty around future SSS trends and around the margin impact of the recent step-up in value messaging and promotional activity.”
McDonald's Corporation closed on Friday at $88.48.
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