McDonald's Makes New All-Time High After Upgrade

McDonald's Corporation MCD shares are trading higher by $1.41 at $154.55 in Tuesday's session. The catalyst for the rally is an upgrade from Cowen from Market Perform to Outperform.

After an opening print well above its former all-time high ($153.18), McDonald's retreated only two pennies to $154.25 before continuing its move higher. So far, the follow-through on the rally took the stock to $155.28, but has fallen back into the mid-$154 handle.

For 2017, McDonald's stock has outperformed the S&P 500 index by a wide margin, with a year-to-date gain of 27 percent vs. the index's gain of 9 percent.