Piper Sandler raised the firm’s price target on McDonald’s (MCD) to $325 from $314 and keeps a Neutral rating on the shares following quarterly results. Overall, it was a good update, with the U.S. same-store sales result coming in line with its sense of expectations, and the IOM coming in above, the firm notes. Specific to the U.S., management reaffirmed the idea of accelerating same-store sales in the second half of this year, and while that shouldn’t have been “surprising” per se, it was still a reminder of that dynamic, Piper adds.
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