JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Investing.com - KeyBanc has reiterated its Overweight rating for McDonald’s (NYSE:MCD) with a price target of $325.00. According to InvestingPro data, the stock currently trades near $302, with analysts’ targets ranging from $260 to $365.
The firm expects McDonald’s to report approximately 2% same-store sales growth in the U.S. for the second quarter of 2024, which it describes as "respectable" despite falling short of initial expectations.
KeyBanc believes McDonald’s likely outperformed competitors in the second quarter, specifically noting that Wendy’s (NASDAQ:WEN) struggled during the same period.
The firm observed that the recent Snack Wrap launch appears to have performed well in its initial days, and noted that McDonald’s has a "solid pipeline of innovation/brand activations" planned for the second half of the year.
KeyBanc maintains its positive outlook on McDonald’s stock despite what it characterizes as a "challenging industry backdrop" for restaurant chains.
In other recent news, McDonald’s has been the subject of various analyst evaluations and strategic developments. Melius initiated coverage of McDonald’s with a Sell rating, expressing concerns about the company’s value perception and pricing strategy. In contrast, Truist Securities raised its price target for McDonald’s to $356, maintaining a Buy rating, and noted the upcoming reintroduction of the Snack Wrap as a potential sales booster. Citi also increased its price target to $365, suggesting that McDonald’s initiatives in product innovation and marketing could enhance its competitive positioning. Meanwhile, KeyBanc lowered its price target to $325, citing competitive pressures and a reduction in consumer spending, though it maintained an Overweight rating. UBS reiterated its Buy rating with a $350 price target, viewing recent share price declines as an attractive entry point for investors. UBS anticipates strengthening same-store sales in the latter half of 2025, driven by new products and marketing efforts. These developments highlight a mixed yet optimistic outlook among analysts regarding McDonald’s ability to navigate current market challenges and leverage growth opportunities.
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