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Fly News Breaks for June 20, 2017
MCD
Jun 20, 2017 | 06:34 EDT
Cowen analyst Andrew Charles upgraded McDonald's to Outperform and raised its price target to $180 from $142 telling investors value and digital are multi-year growth drivers. The firm's proprietary survey data indicates McDonald's value perceptions versus quick service peers has improved since last September when it began to market both the McPick 2 for $5 value platform and discounts only available through the app. Value perceptions among lower income respondents positively inflected in January when it reemphasized entry-level price points. The analyst believes US sales outperformance is sustainable with its sharper focus on value promotions and digital and raised 2017 US comps to 3.4% from 2.2%, versus consensus of 2.7%, and 2018 to 3% from 2%, versus 2.5%.
News For MCD From the Last 2 Days
MCD
Mar 27, 2024 | 06:19 EDT
Citi analyst Jon Tower raised the firm's price target on Krispy Kreme (DNUT) to $19 from $14 and keeps a Neutral rating on the shares. The company's "long-awaited" McDonald's (MCD) partnership came in better than expected, with Krispy Kreme set to see its products sold at most U.S. locations by 2027 versus earlier discussions of a couple thousand stores, the analyst tells investors in a research note. The firm estimates this partnership alone could add $400M in revenue and $85M in EBITDA after full rollout. While execution risk remains, the news is "clearly a positive" for Krispy Kreme and investors, providing greater sales visibility for a brand that's been struggling with GLP-1 headlines and softer spend from lower-income consumers, says Citi.