JPMorgan Slashes McDonald's Stock Target to $260

JPMorgan analysts have cut their target price for McDonald's stock from $280 to $260, citing a slower pace of recovery.

The move follows McDonald's investor-day strategy update and reflects a more cautious view on the speed and cost of growth.

In its second-quarter earnings report, McDonald's saw revenue increase 4% year-over-year to $7.10 billion, with net income up 5% to $2.36 billion.

The company also reported a 1.3% rise in global comparable sales, with the US market up 0.8% and international operated markets increasing by 1.5%.