UPDATE: Morgan Stanley Reiterates on McDonald's as Negative Trends are Expected to Resume
In a report published Thursday, Morgan Stanley analyst John Glass reiterated an Overweight rating on McDonald's (NYSE: MCD), but removed the $115.00 price target.
In the report, Morgan Stanley noted, “We estimate global comps of -1.9% for February when MCD reports monthly sales before the open Monday, March 10th. Our estimate compares to consensus of flat and is toward the low end of the -2.2% to +1.7% range. There is a high degree of uncertainty this month driven by severe winter weather, easy year ago compares that were driven by a calendar shift (Feb '13 lapped an extra day), the timing of Chinese New Year (could be a drag) and a still uncertain macro backdrop. Adjusted for trade day impacts (none this February), our estimate implies 2yr comps of -0.2%, up from -1.5% in Jan, and a 3yr comp of +4.1%, down from +6.5% in Jan.”
McDonald's closed on Wednesday at $95.02.
Latest Ratings for MCD
|Oct 2016||Telsey Advisory Group||Initiates Coverage On||Outperform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.