KeyBanc raised the firm’s price target on McDonald’s (MCD) to $335 from $325 and keeps an Overweight rating on the shares. The firm notes McDonald’s Q2 results included better-than-expected global same-store sales growth, highlighted by broad-based strength and industry outperformance across most major markets during a highly competitive period for the limited-service industry. While McDonald’s still faces challenges in altering negative value perceptions and bringing back low-income consumers, the company appears to be executing at a high level, and KeyBanc remains confident in its second half programs.
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