(CercleFinance.com) – Jefferies maintains its ‘buy’ advice on McDonald’s shares, with a price target of 315 dollars.
The analyst firm says quarterly EPS of $2.59 came in above consensus ($2.46), with global sales up 12.6%, including +10.3% in the US when the consensus was counting on +8.5% in the USA.
Jefferies highlights the success of the Cactus Plant and McRib offerings and expects the positive momentum to continue into 2023.
The broker also indicates that a stronger growth engine could emerge in 2024. This year, MCD plans to open 1,900 stores worldwide (i.e. +1,500 net) worldwide.
According to Jefferies, the attractive stock faces a recession, including outperforming sales, market share gains and a ramp-up in the development of new units underway.
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