Janney commented on February sales for McDonald's Corporation MCD Wednesday and maintained a Neutral rating with an $89 price target.
Analyst Mark Kalinowski suspected that U.S. comp sales for McDonald's slowed during February as sales in the chain burger sector deteriorated during the second half of the month.
The firm cut its February U.S. comps estimates to -1.0 percent compared to the consensus estimate of -0.9 percent.
In the first half of February, burger sector comp sales were the best "in quite some time" due to better weather and lower gas prices Year-over-Year, according to Kalinowski. However, poor weather in the second half was expected to hurt sales.
Despite concerns over sales in February, McDonald's Corporation was higher Wednesday amid a positive report from RBC.
http://www.benzinga.com/analyst-ratings/analyst-color/15/03/5297211/rbc-capital-lovin-it-hikes-mcdonalds-price-target
McDonald's Corporation recently traded at $100.11, up 0.37 percent.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in