McDonald’s Corp MCD reported better than expected Results for the first quarter.
McDonald’s reported Q1 FY23 sales grew 4% year over year to $5.89 billion, beating the consensus of $5.59 billion. Adjusted EPS of $2.63 beat analyst consensus of $2.33.
McDonald’s shares fell 0.6% to close at $291.51 on Tuesday, down 0.1% in today’s premarket trading session.
These analysts changed their price targets for McDonald’s after the earnings were announced.
- Webusch raised McDonald’s target price to $330 from $315. Wedbush analyst Nick Setyan maintained an outperform rating.
- key bank raised McDonald’s price target to $320 from $290. Keybanc analyst Eric Gonzalez maintained his overweight position
- TD Cowen raised McDonald’s target price to $320 from $315. TD Cowen analyst Andrew Charles kept an Outperform rating on the stock.
- MorganStanley raised McDonald’s price target to $315 from $309. Morgan Stanley analyst John Glass kept the stock with an Overweight rating.
- Barclays raised the target price to $330 from $310. Barclays analyst Jeffrey Bernstein maintained an overweight stance on McDonald’s.
Now read the following: Investor sentiment continues to fall amid renewed concerns about banks
[ad_2]
Source story
