UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on McDonald's Corporation Following Europe/APMEA Update - McDonald's (NYSE:MCD)

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In a report published Monday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on

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McDonald's Corporation

(NYSE: MCD), but removed the $113.00 price target.In the report, Morgan Stanley noted, “MCD's Europe and APMEA update did not prove a catalyst in terms of near term trends, or a refranchising update, but did highlight urgency around rebuilding momentum in key markets like Germany, Japan and Southeast Asia. MCD's scale advantages are evident in Europe (systemsales greater than its 9 largest competitors combined) and it still wants to grow into the dominant player in APMEA.”McDonald's Corporation closed on Friday at $103.14.