UPDATE: Morgan Stanley Reiterates On McDonald's As US Plan Begins To Take Shape

In a report published Wednesday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on McDonald's Corporation MCD, but lowered the price target from $96.00 to $95.00. In the report, Morgan Stanley noted, “Amidst one of the worst quarters in recent history, MCD outlined plans to resurrect the US business, which has been losing share at an accelerating rate. Too early to judge its success (launching first piece in Jan). Cutting EPS ests by 6%. Maintain EW as div yield provides valuation floor.” McDonald's Corporation closed on Tuesday at $91.01.