UPDATE: Morgan Stanley Reiterates Equal-Weight Rating, Removes PT on McDonald's Corporation Following Europe/APMEA Update

In a report published Monday, Morgan Stanley analyst John Glass reiterated an Equal-Weight rating on

, but removed the $113.00 price target. In the report, Morgan Stanley noted, “MCD's Europe and APMEA update did not prove a catalyst in terms of near term trends, or a refranchising update, but did highlight urgency around rebuilding momentum in key markets like Germany, Japan and Southeast Asia. MCD's scale advantages are evident in Europe (systemsales greater than its 9 largest competitors combined) and it still wants to grow into the dominant player in APMEA.” McDonald's Corporation closed on Friday at $103.14.