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The Ratings Game: McDonald’s analysts not shaken by U.S. same-store-sales dip because all-day-breakfast launch set up tough comparable

McDonald’s Corp.’s U.S. business is about more than just all-day breakfast. The fast-food giant has a number of initiatives in the works, and analysts aren’t deterred in their bullishness by a 1.3% U.S. same-store-sales decline in the fourth quarter.

“It took 12 months,” analysts at Barclays said in a Monday note, “but McDonald’s investors have overcome the ‘wall of worry’ brought on by the approach of comparable results to those resulting from the launch of all-day breakfast. “And importantly, with two-year comps accelerating of late, and the brand stable in terms of [quick-service] market share, we remain bullish.”

Analysts say they expect upside adjustment of targets at the company’s March 1 investor day.

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