McDonald's Shares Moving Lower On Janney Capital Note
Janney Capital analyst Mark Kalinowski released a note this morning downgrading McDonald's (NYSE: MCD) from a Buy to a Neutral rating, while dropping its price target from $105.
The report focused on street expectations for the company's same store sales, saying they were over inflated given the relative domestic sales trends. Kalinowski went on to drop his June same store sales estimates by 90 basis points to 1.1 percent.
Traders seem to be using the report as a catalyst to trade shares down, giving them their largest drop since June 20th.
Mcdonald's shares were down 1.12 percent to $99.75 midway through the morning.
Latest Ratings for MCD
|May 2015||Deutsche Bank||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.