McDonald's: stock boosted by a broker upgrade

(CercleFinance.com) - The McDonald's stock rose in New York on Wednesday after Deutsche Bank upgraded its recommendation on the stock from "hold" to "buy".


McDonald's stock is currently up 1.4%, the biggest winner in a pretty flat Dow Jones index.

Deutsche believes that the fast-food group will continue to benefit from positive momentum in the US and that its potential for international market share gains remains "underestimated".

The broker has therefore raised its target price for the share from 232 dollars to 244 dollars, which represents upside potential of 11% relative to its current price.

However, note that the share has only risen by 3% YTD, while the Dow Jones is up 7%.


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