Guy Adami Thinks That McDonald's Corporation Is Going Higher

Loading...
Loading...
On September 18, Guy Adami
recommended a long position in McDonald's Corporation MCD
, forecasting a move to $103. The stock jumped almost 3 percent since then and after the news on Monday that Carl Icahn might have taken the stake in the company, it looks like his trade is moving towards his price target. Adami
commented on the news on CNBC's Fast Money
and said that this would be a lot for Carl Icahn and he wants to focus on the fundamentals. According to his recommendation from September 18, traders who bought the stock should double up at this price level. Adami still thinks that the stock is too cheap.
McDonald's Corporation
gained 1.61 percent on Monday and it closed at $96.22.
Posted In: CNBCMediaCarl IcahnGuy Adami
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!

Loading...