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MCD

McDonald's

$118.62

-0.65 (-0.54%)

, WEN

Wendy's

$12.57

-0.31 (-2.41%)

11:04
12/01/16
12/01
11:04
12/01/16
11:04

Analyst sees higher gas prices hurting McDonald's, Wendy's

Research firm Guggenheim downgraded McDonald's (MCD) and Wendy's (WEN) to Neutral from Buy, predicting that the companies would be hurt by gas price increases and rising interest rates. MACRO HEADWINDS: Rising gas prices will negatively affect households' spending power, creating a headwind for McDonald's and Wendy's, warned Guggenheim analyst Matthew DiFrisco. Moreover, increasing interest rates could discourage the company's franchisees from investing in their restaurants, the analyst stated. Additionally, the rally in the dollar will hurt McDonald's international profits, the analyst wrote. ESTIMATES: Despite the downgrades, DiFrisco continues to expect both companies' 2017 results to beat expectations. PRICE ACTION: In late morning trading, McDonald's slid 0.4% to $118.76 and Wendy's rose 1% to $12.70. Over the last month, McDonald's shares have risen nearly 6%, while Wendy's shares are up nearly 19%.

MCD

McDonald's

$118.62

-0.65 (-0.54%)

WEN

Wendy's

$12.57

-0.31 (-2.41%)

MCD McDonald's
$118.62

-0.65 (-0.54%)

11/29/16
FBCO
11/29/16
NO CHANGE
FBCO
Outperform
McDonald's removed from Focus List at Credit Suisse
Credit Suisse analyst Jason West removed McDonald's from the Focus List citing higher valuation, limited near-term catalysts, and limited benefits from Trump's stated goals to lower corporate/consumer taxes. West rates McDonald's an Outperform with a $128 price target.
12/01/16
GUGG
12/01/16
DOWNGRADE
GUGG
Neutral
McDonald's downgraded to Neutral from Buy at Guggenheim
12/01/16
12/01/16
DOWNGRADE

Neutral
McDonald's downgraded to Neutral on valuation, macro headwinds at Guggenheim
As previously reported, Guggenheim downgraded McDonald's to Neutral from Buy and maintained its $127 price target. Analyst Matthew DiFirsco sees limited upside to current valuation and increased potential macro headwinds from rising gasoline prices, and the impact from higher interest rates on franchise investment. Further, the analyst increased risk to 2017 earnings upside due to US dollar appreciation and maintains his outlook for near-term negative US same-store-sales.
12/01/16
12/01/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cummins (CMI) downgraded to Outperform from Buy at CLSA with analyst Kristine Kubacki citing valuation. 2. Cerner (CERN) downgraded to Market Perform from Outperform at Leerink with analyst David Larsen saying he believes there are several macro-headwinds putting pressure on the company's business model that he does not expect to alleviate any time soon. 3. McDonald's (MCD) and Wendy's (WEN) downgraded to Neutral from Buy at Guggenheim. 4. QuintilesIMS (Q) was downgraded to Market Perform from Strong Buy at Raymond James and to Market Perform from Outperform at William Blair. 5. National Oilwell (NOV) downgraded to Sell from Neutral at Seaport Global with analyst Richard Hastings citing premium valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
WEN Wendy's
$12.57

-0.31 (-2.41%)

11/28/16
GSCO
11/28/16
DOWNGRADE
GSCO
Neutral
Wendy's downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Karen Holthouse downgraded Wendy's to Neutral citing valuation with the stock up 23% over the past month. The analyst views the current risk/reward as balanced and keeps a $12.50 price target for the shares.
11/29/16
11/29/16
DOWNGRADE

On The Fly: Top five analyst downgrades
On The Fly: Top five analyst downgrades: 1. Wendy's (WEN) downgraded to Neutral from Buy at Goldman with analyst Karen Holthouse citing valuation with the stock up 23% over the past month. 2. SAIC (SAIC) downgraded to Neutral from Buy at Citi with analyst Jonathan Raviv citing the recent rally in the shares and some overhang from the pending contract transition. 3. BioMarin (BMRN), Johnson & Johnson (JNJ), and Vertex (VRTX) were downgraded to Equal Weight from Overweight at Barclays. 4. Nivalis Therapeutics (NVLS) downgraded to Market Perform Raymond James, to Hold from Buy at Stifel, to Market Perform from Outperform at Cowen, and to Neutral from Outperform at Baird. 5. U.S. Steel (X) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/01/16
GUGG
12/01/16
DOWNGRADE
GUGG
Neutral
Wendy's downgraded to Neutral from Buy at Guggenheim
Guggenheim analyst Matthew DiFrisco downgraded Wendy's to Neutral citing limited upside to current valuation, increased potential macro headwinds from rising gasoline prices, and the impact from higher interest rates on franchise investment near-term. DiFrisco continues to view franchisee adoption of Image Activation falling short of management's 60% target as the greatest risk to valuation.

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