McDonalds: Jefferies still says buy, but cuts target
(CercleFinance.com) - Jefferies reinstates its "buy" recommendation on the McDonalds stock, although has cut its target price from 245 dollars to 230 dollars, the day after the fast-food chain released its Q3 results.
The broker notes that like-for-like sales growth has slipped slightly +5.9%, compared to the consensus of +5.4%, and that at 2.11 dollars, EPS is 10 cents short of what analysts expected.
"We still think MCD is an attractive Buy ahead of macro uncertainty, especially with valuation below peers and arguably better SSS & TSR visibility ahead," Jefferies said nonetheless.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker notes that like-for-like sales growth has slipped slightly +5.9%, compared to the consensus of +5.4%, and that at 2.11 dollars, EPS is 10 cents short of what analysts expected.
"We still think MCD is an attractive Buy ahead of macro uncertainty, especially with valuation below peers and arguably better SSS & TSR visibility ahead," Jefferies said nonetheless.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.