Guggenheim analyst Gregory Francfort lowered the firm’s price target on McDonald’s (MCD) to $305 from $310 and keeps a Neutral rating on the shares. The shares have reset lower over the past month amid tepid U.S. same-store sales coupled with downward pressure on defensive stock valuations, and while the skew in McDonald’s is starting to shift to the upside rather than the downside, it is not yet compelling enough to warrant an upgrade, the analyst tells investors in a research note.
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