Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Talend (TLND) initiated with an Equal Weight at Barclays, a Neutral at Goldman, a Neutral at Citi, a Neutral at JPMorgan, and an Outperform at William Blair. 2. BJ's Restaurants (BJRI), Brinker (EAT), Buffalo Wild Wings (BWLD), Chipotle (CMG), McDonald's (MCD), Cheesecake Factory (CAKE), Fogo De Chao (FOGO) were initiated with a Hold at Canaccord while the firm initiated Dave & Buster's (PLAY) and Panera Bread (PNRA) with a Buy. 3. Valero (VLO) and Marathon Petroleum (MPC) were initiated with a Buy at Jefferies, which also started coverage on Phillips 66 (PSX) with a Hold rating. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Citi lowered the firm's price target on McDonald's to $297 from $312 and keeps a Neutral rating on the shares. The analyst looked at the recent pullback in the shares as a potential opportunity to get more positive on McDonald's. However, while Citi thinks some of the recent pressure on shares came from faltering high-frequency data, it finds it hard to make a valuation-based or high-frequency data-driven case to own McDonald's shares ahead of a "rock and a hard case" Q1 earnings setup. If the company walks away from guidance for 3%-4% U.S. same-store-sales in 2024, it further biases estimate revisions down, and if it maintains it, optimistic guidance remains a bear case, the analyst tells investors in a research note.