UPDATE: Citigroup Raises PT to $92 on McDonald's on Global Comps
Citigroup reiterated its Neutral rating on McDonald's (NYSE: MCD) but raised its price target from $91 to $92.
Citigroup noted, "November SSS were up 2.4% (+1.2% benefit from trading day) vs. October of -1.8% (-2.1% impact from trading day), vs. FC est. of -0.1%. U.S., Europe and APMEA sales all came in ahead of expectations driven by increased focus on value platform as well as a trading day benefit. … Given updated trends, we're raising our '12-14 EPS estimates by 3c, 7c and 11c, respectively. Raising tgt px by $1 to $92."
McDonald's closed at $89.24 on Friday.
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