McDonald’s Corp.’s stock tacked on 0.1%, putting it on track for a third-straight record close, after the fast-food giant’s share price target was raised at SunTrust Robinson Humphrey, two days before first-quarter results are scheduled to be released. Analyst Jake Bartlett affirmed his buy rating, but boosted his stock price target to $145, which is 12% above current levels, from $135. He raised his earnings-per-share outlook for this year and next, citing expectations that the drag from unfavorable currency moves will be reduced significantly, and an upbeat outlook for same-store sales (SSS) in the U.S. “We see some risk of disappointing about [first-quarter] U.S. SSS, given our perception of high investor expectations…but expect that continued SSS outperformance in the U.S….and EPS upside in 2016 and 2017 due to the weaker U.S. dollar…will ultimately drive [McDonald’s] shares higher,” Bartlett wrote in a note to clients. The stock has climbed 9.1% year to date, while the Dow Jones Industrial Average has tacked on 3.6%.
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