Goldman Sachs upgraded McDonald’s (MCD) to Buy from Neutral with an unchanged price target of $345, suggesting 18% upside. The firm sees the company using its “marketing power” to elevate consumer awareness around its new menu offerings to generate traffic and check growth. This will happen alongside accelerating global unit development, the analyst tells investors in a research note. Goldman has begun to see some early signs that McDonald’s new product offerings and value platform are working, saying the brand has maintained traffic growth above peer levels.
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