Sterne Agee Reiterates Buy Rating, $101 PT on McDonald's Corporation
In a report published Monday, Sterne Agee Group reiterated its Buy rating and $101.00 price target on McDonald's Corporation (NYSE: MCD).
Sterne Agee noted, “Recent channel checks indicate that MCD will be testing chicken wings (‘Mighty Wings') in a second major market (Chicago) beginning this week. Given that we believe that the Atlanta test proved successful, we believe that it is likely that we will continue to see additional MCD markets featuring wings and would not rule out a national launch in the future. Maintaining BUY rating and $101 price target on MCD.”
McDonald's Corporation closed on Friday at $89.85.
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