Market Overview

UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on McDonald's Corporation

Share:
Related MCD
IPO Outlook: Shake Shack IPO Set To Wrap Up Busy Week
McDonald's Upgraded At Stephens, Firm Sees 16% Potential Upside
McDonald's CEO Thompson to retire; Easterbrook named (Seeking Alpha)

In a report published Friday, Goldman Sachs reiterated its Neutral rating on McDonald's Corporation (NYSE: MCD), and raised its price target from $94.00 to $100.00.

Goldman Sachs noted, “We come away from the meetings with increased confidence in the MCD story heading into 2013. While near-term results will likely remain choppy as a result of tough compares, management expressed clear optimism around its future 2013 new product launches (noting an upcoming chicken launch in particular). We are starting to believe that once tough compares ease in April, MCD may actually be one good new product launch away from a renewed growth cycle. This said, we retain our Neutral rating given uncertainty around the macro in many of MCD's key markets, increased competitive pressures of late, and limited potential for margin expansion in the absence of robust SSS. Management indicated that in the current environment, it would need greater than 3% SSS to lever fixed costs.”

McDonald's Corporation closed on Thursday at $93.31.

Latest Ratings for MCD

DateFirmActionFromTo
Jan 2015JefferiesMaintainsHold
Jan 2015BarclaysMaintainsOverweight
Jan 2015Stephens & Co.UpgradesEqual-weightOverweight

View More Analyst Ratings for MCD
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (MCD)

Around the Web, We're Loving...

Get Benzinga's Newsletters