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MCD

McDonald's

$193.93

-2.71 (-1.38%)

07:22
11/04/19
11/04
07:22
11/04/19
07:22

McDonald's should be bought on weakness from CEO change, says Barclays

While the CEO transition announced by McDonald's was unexpected, "and therefore not a good thing," the change was not due to operational or financial issues, but rather personal conduct, Barclays analyst Jeffrey Bernstein tells investors in a research note. The analyst is confident the company has the depth in leadership to maintain momentum as the global quick service restaurant leader. As such, he's a buyer of McDonald's shares on any weakness and keeps an Overweight rating on the name with a $225 price target.

MCD McDonald's
$193.93

-2.71 (-1.38%)

10/29/19
DADA
10/29/19
NO CHANGE
Target $84
DADA
Underperform
Beyond Meat price target lowered to $84 from $130 at DA Davidson
DA Davidson analyst Brian Holland slashed his price target on Beyond Meat (BYND) to $84 and kept his Underperform rating after its Q3 results. The analyst notes that the quarter saw a "strong beat" and a raise in guidance, with the company's execution causing him to "back off" from prior concerns about its partnership with McDonald's (MCD). Holland maintains however that the long-term caution about the growth trajectory at Beyond Meat still exists, even though the valuation on the stock is getting "more palatable".
11/04/19
PIPR
11/04/19
DOWNGRADE
Target $195
PIPR
Neutral
McDonald's downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan downgraded McDonald's (MCD) to Neutral from Overweight with a price target of $195, down from $224. The stock in premarket trading is down 2%, or $4.35, to $189.59 after CEO Steve Easterbrook was let go due to a consensual relationship with employee. While the company's fundamentals are solid, CEO changes "of this magnitude tend to be disruptive," Regan tells investors in a research note. As such, the analyst is taking a "more cautionary view" on the shares, noting the potential lack of momentum and time involved in formalizing a new management team. She recommends a rotation into Chipotle Mexican Grill (CMG) shares.
11/04/19
SPHN
11/04/19
NO CHANGE
Target $225
SPHN
Overweight
McDonald's shares attractive on the pullback, says Stephens
The departure of CEO Steve Easterbrook is a "fairly significant negative" for investors, given his history of impressive and consistent global results, Stephens analyst Will Slabaugh tells investors in a research note. The analyst, however, likes the "quick choice" of Chris Kempczinski as the next CEO, given his existing relationships with domestic operators and "leadership experience during some of the U.S.'s best years in decades." Slabaugh likes McDonald's here and views the shares as attractive on the recent pullback. He keeps an Overweight rating on the name with a $225 price target. McDonald's in premarket trading is down 3%, or $5.09, to $188.85.
11/04/19
FBCO
11/04/19
NO CHANGE
Target $230
FBCO
Outperform
Credit Suisse views any pullback in McDonald's stock as buying opportunity
Credit Suisse analyst Lauren Silberman tells investors in a research note that she thinks McDonald's shares could be under "modest" pressure Monday after the company announced that Steve Easterbrook has separated from the company following the board's determination that he violated company policy and demonstrated poor judgment involving a recent consensual relationship with an employee. Easterbrook was "highly regarded" in the investment community and among franchisees, and potential concerns of franchisee sentiment regarding new leadership, Silberman says, but adds that McDonald's has a "talented" bench and expects management and the board have a like-minded strategy. She says the management transition does not alter her positive view of the company, and views any material pullback pullback in the stock around the CEO change as a buying opportunity. Silberman maintains an Outperform rating and $230 price target.

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