Stocks
KeyBanc Sticks by Overweight Rating on McDonald's Ahead of Investor Day
KeyBanc Capital Markets has reaffirmed its Overweight rating on McDonald's Corp. () ahead of the company's Investor Day scheduled for September 23.
The investment firm, which set a price target of $305.00, cited concerns about recent sales trends and macroeconomic headwinds as reasons for the stock's decline, down 19% year-to-date compared to a 12% gain in the S&P 500.
KeyBanc also expects McDonald's to discuss its 'NEXT' initiative at the Investor Day, which aims to set new financial targets through 2030. The firm has reviewed McDonald's past Experience of the Future initiative and examined recent sales trend data to provide context around potential company investment.