McDonald’s shares attractive following recent pullback, says UBS

UBS analyst Dennis Geiger tells investors in a research note that the firm finds McDonald’s (MCD) shares attractive following the recent pullback, with a positive second half U.S. comp setup as a catalyst and somewhat limited downside. The firm, which has a Buy rating and $350 price target on the shares, says McDonald’s is well-positioned to deliver solid same-store sales in the second half of the year, driven by new products, value initiatives, and marketing plans that should resonate, even as lower and middle income spending pressure could linger.