McDonald's: Jefferies trims TP

(CercleFinance.com) - Jefferies maintains its Buy rating on McDonald's shares, with a target price reduced from $320 to $310.


The analyst cites a difficult Q2, with EPS and same-store sales in the US and internationally falling below expectations, although perhaps not as bad as investors had feared.

Jefferies also believes that management's tone was quite confident and optimistic about defining the right value equation for H2 2024 and 2025.

In an increasingly promotional environment, we believe that MCD is best positioned to regain value perception and turn around LFL sales as early as Q4, it concludes.


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