Morgan Stanley cuts McDonald’s stock rating, lowers price target

Published 09/06/2025, 09:16
Morgan Stanley cuts McDonald’s stock rating, lowers price target

On Monday, Morgan Stanley (NYSE:MS) analysts downgraded McDonald’s stock from Overweight to Equalweight, adjusting the price target to $324 from $329. The decision reflects a more balanced view of the fast-food giant’s risk and reward profile, considering its strong market position and potential structural challenges. According to InvestingPro data, McDonald’s currently trades slightly above its Fair Value, with analyst targets ranging from $300 to $364.

The analysts noted that McDonald’s has consistently demonstrated robust operating margins of over 45% and a return on invested capital exceeding 20%. Recent InvestingPro data shows impressive financial health metrics, with a gross profit margin of 56.8% and return on assets of 14.9%. Despite these strengths, they expressed concerns about various factors that could impact the company’s future performance, including pressures on lower-income consumers and the need for a value proposition realignment.

McDonald’s stock has risen 6% year-to-date and remains 5% below its all-time highs. The analysts acknowledged the company’s resilience amid fundamental challenges over the past year but highlighted potential headwinds that may persist beyond 2025.

While recognizing McDonald’s as a staple-like asset in the quick-service restaurant sector, the analysts emphasized the company’s valuation compared to its peers. They believe the stock may not offer significant re-rating potential or above-consensus growth in the medium term.

The report suggests that while McDonald’s may continue to be a core defensive holding, outperforming higher beta stocks in volatile markets, the analysts see limited prospects for substantial upside in the near term.

In other recent news, McDonald’s Corporation (NYSE:MCD) has been the focus of several significant developments. The company recently announced the closure of its standalone CosMc’s stores, with plans to integrate CosMc’s-inspired flavors into its main menu. This move follows insights gained from the beverage-focused experiment, aiming to enhance McDonald’s drink offerings. Meanwhile, shareholders at the 2025 Annual Shareholders’ Meeting voted on various issues, including the election of board members and executive compensation, with all board nominees elected and executive pay approved.

On the financial front, Loop Capital maintained a Buy rating for McDonald’s, setting a price target of $346, citing positive trends in same-store sales and the potential impact of new menu items like chicken strips and snack wraps. Conversely, Erste Group downgraded McDonald’s stock from Buy to Hold, pointing to anticipated slow sales growth in 2025. TD Cowen also reiterated a Hold rating with a $305 target, expressing optimism for sales improvement in the second half of 2025 but noting the need for consistent performance to exceed current trading ranges.

These updates reflect McDonald’s strategic shifts and market analyses, with analysts closely monitoring the company’s performance and sales growth potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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