Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
McDonald’s Corporation (NYSE: MCD) shareholders are cheering the company’s across-the-board Q3 earnings beat released prior to the market open on Friday. Stephens analysts Will Slabaugh expects McDonald's to continue focusing on what is working in Q4: breakfast.
McDonald's beat consensus Q3 expectations in revenue, EPS, U.S. same-store sales (SSS) and global SSS. According to Slabaugh, McDonald’s stock has limited downside at its current valuation, but the company’s introduction of all-day breakfast should continue to deliver upside for investors in the near term.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
“We continue to like the stock at these current levels and believe this quarter’s results are positive, though will take a back seat to the upcoming laps of All Day Breakfast in 4Q and 1Q,” Slabaugh explained.
The key for McDonald’s quarter was solid SSS beats. U.S. SSS were up 1.3 percent year-over-year (Y/Y) and 2.0 percent over Q3 2014.
Global SSS came in at an impressive +3.5 percent, well ahead of consensus expectations of +1.5 percent and Stephens’ estimate of +0.0 percent.
McDonald’s shares are trading up more than 2.2 percent in early Friday trading. However, the company has had a rough 2016 overall, down 4.0 percent on the year.
Stephens maintains an Overweight rating for McDonald’s and a $135 price target for the stock.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.