Sterne Agee Reiterates Buy on McDonald's Ahead of 'Mighty Wings' Launch

In a report published Tuesday, Sterne Agee analyst Lynne Collier reiterated a Buy rating and $107.00 price target on McDonald's Corporation MCD. In the report, Sterne Agee noted, “A restaurant industry news source is indicating that MCD will be rolling out Mighty Wings nationally as an LTO on September 9. While this announcement is inline with our expectations, we view the introduction of Mighty Wings as a meaningful catalyst for comps. Based on our channel checks, we believe that Mighty Wings performed very well in test and drove the average check. We are maintaining our Buy rating and price target of $107.” McDonald's Corporation closed on Monday at $95.31.