(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on McDonald’s with an adjusted price target of 315 to 320 dollars, seeing ‘multiple catalysts which could push the title’, including the attractiveness of the file linked to its resilience to a recession.
The broker also points to ‘the digital dynamics of McDonald’s, including the recent Cardi B Meal (which has generated good interest, in line with the previous J Balvin/Saweetie meals) and the active growth of loyalty program members’.
Finally, Jefferies highlights ‘the potential for both general and administrative (SG&A) cost savings and unit growth acceleration to bring upside potential to EBITDA expectations for 2024’.
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