UPDATE: Deutsche Bank Reiterates McDonald's at Buy on Solid November Comps
Deutsche Bank reiterated its Buy rating on McDonald's (NYSE: MCD) and maintained its price target at $97.
Deutsche Bank noted, "MCD posted a solid Nov result against very low expectations. It remains to be seen if this performance was just a case of monthly volatility or a sign of an early turnaround. Either way, we were encouraged to see a positive print and continue to recommend being buyers of MCD given long-term competitive advantages and some favorable dynamics into 2013: easing sales compares (post-Mar.), more difficult compares for competitors, low expectations, lower G&A spend, and less negative f/x."
McDonald's closed at $89.66 on Friday.
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