March 27 - McDonald's Corp. (NYSE:MCD) just got a vote of confidence from KeyBanc Capital Markets, which raised its price target to $340 from $335 while sticking with an "Overweight" rating.
The stock is trading around $313.58, not far from its 52-week high of $326.32, with Wall Street targets spanning between $280 and $360.
The fast-food giant, like much of the broader quick-service industry, has faced its share of challenges this year. Analyst Eric Gonzalez pointed to a rough first quarter marked by bad weather, shifting calendars, a heavy flu season, and ongoing questions around affordability. On top of that, McDonald's has been working through the effects of an E. coli outbreak that added to the pressure.
Still, KeyBanc sees brighter days ahead. Gonzalez said momentum could pick up as soon as the second quarter of 2025, driven by new marketing strategies and fresh product offerings. These efforts could help McDonald's regain market share and reinvigorate its sales after the rocky start to the year.
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