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Fly News Breaks for January 4, 2016
WEN, MCD
Jan 4, 2016 | 07:56 EDT
Nomura analyst Mark Kalinowski upgraded McDonald's (MCD) to Buy from Neutral after raising his U.S. same-store sales forecast for the company's fourth quarter to 3.5% based on channel checks indicating November was the best month for U.S. quick-service burger-sector same-store sales to that point in 2015. The analyst, who also upgraded Wendy's (WEN) today, raised his price target on McDonald's shares to $135 from $112, citing greater confidence in recent same-store sales trends and its outlook over the next 6-12 months.
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