McDonald's Price Target Cut by RBC as Investor Day Looms

RBC Capital has reduced its price target for McDonald's Corp. to $290 from $295, citing estimate cuts ahead of the company's investor day on September 23.

The event will feature management presenting the NEXT strategy in detail and setting new financial targets through 2030.

As part of the presentation, investors can expect details on an upcoming remodel program and co-investment, which RBC Capital estimates could represent low-to-mid single digits of free cash flow.

The firm has also noted that same-store sales growth needs to reaccelerate before investor interest increases, but it does not expect this to occur until the first quarter of 2027.