KeyCorp Lowers McDonald's Target to 280 Amid Mixed Q2 Results

McDonald's stock (MCD) was trading at USD 233.90 on the NYSE on October 6, 2026, up 0.37 percent from the prior close. The movement came after KeyCorp reduced its price target for the stock from USD 305.00 to USD 280.00, although the brokerage maintained its Overweight rating. The new target is 19.7 percent above the current trading price.

The adjustment reflects a more cautious near-term outlook. Wells Fargo also lowered its target from USD 300.00 to USD 270.00 while keeping an Overweight rating. Meanwhile, Guggenheim cut its target from USD 290.00 to USD 250.00 and retained a Neutral rating. Despite these cuts, the consensus among 37 analysts remains a Moderate Buy, with an average target of USD 297.76, which is 27.3 percent above the current price.

McDonald's Q2 2026 earnings showed a 6 percent year-over-year increase in adjusted earnings per share to USD 3.38, while revenue rose 4 percent to USD 7.099 billion. However, global comparable sales increased only 1.3 percent, with the U.S. market showing the weakest growth at 0.8 percent. The stock is currently trading 2.1 percent above its 52-week low of USD 229.20 and 31.6 percent below its high of USD 341.75.

The tension between resilient earnings and softer customer traffic highlights the challenges ahead for McDonald's as it executes its value strategy and works to recover sales.