Why McDonald's Stock Flatlined on Wednesday
McDonald's (NYSE: MCD) is a popular stock that frequently wins praise from market professionals. The downside of this is that, at times, when even a slight dip in that esteem happens, it can put a damper on the fast-food king's shares. This happened on Hump Day with an analyst's price target cut.
The result of this was that McDonald's stock took a slight (0.3%) hit to its share price across the trading session. That was notably better than the 2.3% stumble of the S&P 500 index.
The analyst doing the price target shaving was UBS's Dennis Geiger. Well before market hours, he reduced his fair value estimation of McDonald's to $305 per share from his preceding $335. That cut wasn't deep enough for Geiger to change his hopeful recommendation on the stock, which remains buy.
Source Fool.com
