RBC Lowers McDonald's Price Target Ahead of Investor Day

RBC Capital lowered its price target for McDonald's Corp. (NYSE:MCD) to $290 from $295 while maintaining a Sector Perform rating on the stock.

The firm reduced its estimates ahead of McDonald's investor day scheduled for September 23 at its Chicago headquarters, where management will present its NEXT strategy and set new financial targets through 2030.

RBC Capital noted that remodels and new long-term targets are the focus of the upcoming event, which comes as long-only interest in restaurant stocks remains depressed due to macro pressures weighing on same-store sales growth.

The firm does not expect same-store sales growth to reaccelerate until the first quarter of 2027, and currently has McDonald's stock trading near its 52-week low of $252.15, down 14% year-to-date.