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McDonald's Stock Price Target Raised 4.62% by BMO Capital Analyst

By Don Francis, Editor
July 30, 2023 2:48 AM UTC
McDonald's Stock Price Target Raised 4.62% by BMO Capital Analyst

BMO Capital's Andrew Strelzik raised their price target on Mcdonalds Corp (NYSE: MCD) by 4.62% from $325.00 to $340.00 on 2023/07/28. The analyst maintained their Buy rating on the stock.

Strelzik's decision to raise the price target came in response to McDonald's Q2 2023 earnings report, which was released on July 27. The company's performance in the second quarter surpassed expectations, thanks to higher-than-expected comp trends across all sectors and stronger margins. Strelzik conveyed this positive news to investors, stating, "McDonald's Q2 performance beat expectations thanks to higher-than-expected comp trends across all sectors and generally stronger margins."

Strelzik's Buy rating suggests a positive outlook for the stock, reinforcing their confidence in McDonald's future performance. The analyst also described McDonald's as their "preferred defensive pick," indicating that they believe the stock has the potential to provide stability and resilience in uncertain market conditions.

Several other analysts also updated their ratings and price targets for McDonald's on July 28. Citigroup's Jon Tower raised their price target by 2.92% and maintained their Hold rating on the stock. Wells Fargo's Zachary Fadem raised their price target by 1.97% and also maintained their Hold rating. Bank of America's Gregory Francfort raised their price target by 7.52% while keeping their rating at Hold.

Based on the latest ratings, 42.11% of top-rated analysts currently rate McDonald's as a Strong Buy, while another 42.11% consider it a Buy. Only 15.79% of analysts see the stock as a Hold, and no analysts recommend or strongly recommend selling the stock.

The consensus forecast among analysts is that McDonald's will deliver earnings per share (EPS) of $10.68 in the upcoming year. If the analysts' predictions hold true, this would represent a year-over-year increase of 13.90% in McDonald's EPS.

Looking at the stock's performance, since McDonald's last quarterly report, the price has climbed by 77.82%. On a year-over-year basis, the stock is up 11.60%. However, during this period, McDonald's has slightly trailed behind the S&P 500, which has risen by 12.52%.

Andrew Strelzik, the BMO Capital analyst who raised the price target, is ranked in the top 12% of Wall Street analysts by WallStreetZen. With an average return of 7.54% and a win rate of 67.53%, Strelzik specializes in the Communication Services and Basic Materials sectors, among others.

McDonald's Corporation, founded in 1940 and headquartered in Chicago, IL, operates and franchises fast-food restaurants both in the U.S. and internationally.

Many investors find analysts' recommendations and price targets to be useful data points. However, different investors have different priorities and risk profiles. All investors should conduct their own investment due diligence before buying a stock.

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