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Fly News Breaks for January 28, 2020
Jan 28, 2020 | 07:22 EDT
Longbow analyst Alton Stump said his talks with McDonald's (MCD) franchisees in the U.S. lead him to raise his domestic same-store sales estimate for Q4 to up 5.0%-5.5% from his prior estimate for 4.5% growth. Noting that consensus calls for U.S. SSS growth of 4.7%, he said he thinks a 5-5.5% comp result would be viewed positively by most investors. Stump also said his checks indicated that McDonald's benefited from share gains over Restaurant Brands' (QSR) Burger King during late Q4 and early in Q1. Stump maintains a Buy rating and $227 price target on McDonald's shares.