McDonald’s price target raised to $310 from $305 at Guggenheim

Guggenheim raised the firm’s price target on McDonald’s (MCD) to $310 from $305 and keeps a Neutral rating on the shares after the company reported better than expected international same-store sales and a return to positive comps in the U.S. in Q2. Despite better trends than peers and a global unit growth acceleration, versus most global peers decelerating, the firm is “hesitant” to push its multiple into the range needed to get the upside potential it would require to recommend shares, the analyst tells investors.