1 Wall Street Analyst Thinks McDonald's Stock Is Going to $310. Is It a Buy Around $270?
It's easy to be bearish on McDonald's (NYSE: MCD) stock these days. At the end of April the fast-food giant unveiled its first quarter results, which featured a rare company miss on the average analyst net income estimate.
This and other factors caused several analysts to cut their McDonald's price targets. One who did so reduced his to $310 per share; however, that still implies potential upside of 15%. Is it a wise move to continue believing in this company?
That prognosticator was KeyBanc's Eric Gonzalez, who issued a new research note just after the publication of that earnings release. That reduction wasn't huge, as Gonzalez only lopped $5 off his previous $315 per share price target; meanwhile, he kept his overweight (i.e., buy) recommendation intact on McDonald's stock.
Source Fool.com
