UPDATE: Credit Suisse Reiterates Neutral Rating, Raises PT on McDonald's Corporation on Improving Low-End

In a report published Monday, Credit Suisse analyst Karen Holthouse reiterated a Neutral rating on McDonald's Corporation MCD, and raised the price target from $96.00 to $103.00. In the report, Credit Suisse noted, “Low-end wages picking up, sentiment improving, and an improving relative value position vs the rest of QSR and grocery, are all tailwinds to domestic performance and we have moderately increased our near-term US comp outlook. We now estimate an April comp of 0.5%, 40bps ahead of the street. That said, our long-term concerns about millennial relevancy and a digital strategy remain. Reflecting stronger comps our F14 EPS est increases to $5.65 from $5.61, F15 to $6.14 from $6.07 and F16 to $6.69 from $6.59.” McDonald's Corporation closed on Friday at $101.43.