Cowen analyst Andrew Charles said he is "cautiously optimistic" on McDonald's shares, stating that he likes that the company is replicating the successful international strategy of focusing on velocity growth drivers, such as remodels, digital ordering and third-party delivery, in the U.S. He continues to think the cadence of U.S. remodels is the most tangible same store sales driver in 2019 and believes consensus doesn't seem to appreciate the contribution of remodels to U.S. comp growth. Charles maintains an Outperform rating and $205 price target on McDonald's shares.