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MCD

McDonald's

$163.82

0.87 (0.53%)

09:11
10/15/18
10/15
09:11
10/15/18
09:11

McDonald's upgraded to Outperform from In Line at Evercore ISI

Evercore ISI analyst Matt McGinley upgraded McDonald's to Outperform from In Line given lowered expectations on comp, a pullback in valuation relative to last year, and due to the more defensive nature of the business model. For the industry, the analyst believes that economies of scale are of increasing importance amid labor inflation, remodel investment, and a higher promotional cadence. This will require greater sophistication to plan, execute, and evolve, and as a result, he expects to see more M&A and marginal capacity exit. McGinley also think's the McDonald's size and investment in its asset base place it in a strong position to do well as these changes occur.

  • 23

    Oct

MCD McDonald's
$163.82

0.87 (0.53%)

10/15/18
EVER
10/15/18
UPGRADE
EVER
Outperform
McDonald's upgraded to Outperform from In Line at Evercore ISI
10/15/18
RBCM
10/15/18
NO CHANGE
Target $175
RBCM
Outperform
RBC Capital expects rapid free cash flow growth at McDonald's
RBC Capital analyst David Palmer kept his Outperform rating and $175 price target on McDonald's, saying he still expects the company to produce "rapid" free cash flow growth in the second half of the year thanks to its "solid sales trends" and strong international performance. The analyst believes that comps accelerated through Q2 as its fresh beef product provides a 2bp lift to overall growth. Palmer also expects McDonald's digital and delivery initiatives, along with its more effective marketing and product innovation would accelerate same-store sales. The analyst believes that the recent franchisee-only meeting was organized to address some of the more recent challenges around higher upfront spending because of "rapid pace" of store and menu upgrades and a dramatic reduction in regional advertising by the company.
10/10/18
10/10/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. MCDONALD'S UPGRADED TO BUY: Guggenheim analyst Matthew DiFrisco upgraded McDonald's (MCD) to Buy from Neutral with a $200 price target as he believes the shares valuation discount to large cap peers has widened to an "unjustifiable" level given his outlook for stable to improving same-store sales and greater free cash flow generation. DEUTSCHE CUTS CONSUMER STAPLES STOCKS TO SELL: Deutsche Bank analyst Steve Powers downgraded Clorox (CLX), Church & Dwight (CHD) and Kimberly-Clark (KMB) to Sell from Hold and lowered his price targets to $123, $51, and $99, respectively. While investor appetite for defensive names remains elevated, the fundamental challenges facing Consumer Packaged Goods companies are "somewhat underappreciated," Powers believes. The analyst believes currency and emerging market volatility will pressure numbers in the near-term, while structural competitive and retail pressures will challenge momentum longer-term. PIPER STARTS MICRON AT NEUTRAL: Piper Jaffray analyst Harsh Kumar initiated coverage of Micron Technology (MU) with a Neutral rating and $48 price target. The analyst awaits more clarity surrounding the mid-term dynamics of the memory cycle before getting more constructive on the shares. The memory market as a whole has experienced favorable trends over the last few years, Kumar said. However, given the cyclical nature of the memory market, the analyst prefers to remain on the sidelines until he has a better grasp of the cycle. JPMORGAN ADDS DROPBOX TO FOCUS LIST: JPMorgan analyst Mark Murphy added Dropbox (DBX) to his firm's Analyst Focus List while keeping an Overweight rating on the shares with a $35 price target. While not convinced the "seven-day-old growth tech selloff is over," the analyst sees an improving risk/reward on Dropbox shares and potential for 30%-50% outperformance. He believes investors are "underestimating the stability and consistency of the Dropbox engine," and are overlooking the launch and adoption of its Premium plans. JPMORGAN SAYS GE TURBINE ISSUES MAY BE WORSE THAN THOUGHT: Recently published feedback from a General Electric (GE) H-frame user group event suggests more serious technology issues with the new flagship product, JPMorgan analyst Stephen Tusa said. While most of the focus has been on the technology around the blades, the event indicates a "myriad of shortfalls in other parts of the turbine that we find hard not to consider 'technology flaws,'" Tusa said. Tusa kept an Underweight rating on shares of General Electric.
10/10/18
10/10/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Outperform from Neutral at Credit Suisse with analyst Doug Mitchelson saying he has reviewed the company's Nielsen ratings trends in detail, discussed the company's ad execution with industry contacts and recalibrated distribution trends leading to an increase in his U.S. revenue forecast and increased confidence in his above-Street EBITDA estimates. 2. McDonald's (MCD) upgraded to Buy from Neutral at Guggenheim. 3. Ferrari (RACE) upgraded to Hold from Sell at Societe Generale with analyst Stephen Reitman saying the final version of the mid-term FY22 plan shared by new CEO Louis Camilleri in September broadly repeats the key financial goals first stated in February, but the manner as to how these will be achieved appears to have fundamentally altered. 4. Intuitive Surgical (ISRG) upgraded to Overweight from Neutral at Piper Jaffray with analyst JP McKim saying a survey of doctors from various specialties came back favorable for robotics and confirms that robotic surgery penetration is going "much higher." 5. Tile Shop (TTS) assumed with a Buy from Neutral at Citi with analyst Geoffrey Small saying the hard-surface flooring sector is attractive given its favorable growth profile, highly-fragmented structure and because it carries very little threat of e-commerce disruption. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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LLY

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FCX

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  • 23

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WBS

Webster Financial

$44.80

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WBS

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LYFT

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$44.73

3.87 (9.47%)

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FEYE

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MCD

McDonald's

$201.55

-8.295 (-3.95%)

13:45
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XLNX

Xilinx

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TXN

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