Morgan Stanley on Thursday assigned an Overweight rating to McDonald's MCD. The report came in following McDonald's new three-year cash plan.
Analyst John Glass led the research, and said the following, “Relative to our expectations, MCD's plans to optimize its capital and store ownership structure were generally in line on the vision.”
McDonald's three-year cash return target is $18 billion to $20 billion. The last time the chain issued similar plans, McDonald's hit the upper end of its goals.
Shares of McDonald's closed up 0.85 percent on Thursday.
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