J.P. Morgan: "Modest Downside" on McDonald's Could Allow Agressive Entry

J.P. Morgan maintained its McDonald's MCD $96 price target in a research report on the company published today. J.P. Morgan has an Overweight rating on the company - with a stock ranking of #2 in global QSR, with reference to its #1-ranked Starbucks SBUX and #3-ranked Yum Brands YUM. In the report, J.P. Morgan stated, "SBUX remains our #1 pick in Overweight-rated large cap global QSR, but with the recent sell-off in MCD including post the May comp release, valuation is becoming more attractive at 14.7x C13E EPS both on relative valuation to YUM and on an absolute basis to its historical average." Shares of McDonald's closed today at $87.75, down 0.71% from Thursday's market close.