Tiger Brokers

BUZZ-McDonald's rise after Truist raises PT

Reuters
Jan 09
BUZZ-McDonald's rise after Truist raises PT

** Shares of fast-food chain McDonald's MCD.N rise 1.23% to $307.88

** Truist Securities raises PT on MCD to $356 from $350, a 17% upside to the stock's last close

** Brokerage cites confidence in self-help sales drivers and a better near-term sales outlook

** Growing traffic benefit from the Extra Value Menu, potential innovation around chicken, and a possible national beverage platform rollout following successful regional tests represent key company-specific drivers, the brokerage says

** 20 of 39 brokerages rate the stock "buy" or "higher", 17 "hold" and 2 "sell"; their median PT is $342.50

** Including session's moves, MCD up 7.3% in last 12 months

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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