- The shares of McDonald’s Corp (NYSE: MCD) have received a $260 price target by UBS. These are the details.
The shares of McDonald’s Corp (NYSE: MCD) have received a $260 price target by UBS. And UBS analyst Dennis Geiger reiterated a “Buy” rating on the company shares.
Following U.S. franchisee checks, Geiger highlighted continued sales momentum second quarter to date, supporting the thesis of a solid second half against difficult compares. And franchisee checks indicate US comp momentum has continued the second quarter to date through May, increasing over 15% over 2019, relative to the full second-quarter guidance for 2-year trends in line with the first quarter (~13.7%).
“Key drivers of momentum include ongoing strength in drive-thru & delivery, benefits of simplification/speed, cont. contribution from the new chicken sandwich, and initial gains from the BTS meal promo. We model a 25% 2Q comp est., relative to Consensus’ 23.4%. While early days, our checks suggest the BTS meal (launched 5/26) is selling well, ~125-150/day and exceeding expectations for many,” said Geiger in a research note via Street Insider.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
