McDonald’s will look to innovate its chicken sandwich menu in order to compete with Chick-fil-A, analysts say
Goldman Sachs has initiated its coverage of the restaurant sector with a warning to investors: Avoid names that are at risk of losing market share to Chick-fil-A.
However, Goldman Sachs rates McDonald’s buy with a $250 price target. Analysts think McDonald’s will look to innovate its chicken sandwich menu in order to compete with Chick-fil-A. Goldman is initiating the restaurants at a time when analysts think there are a few things working in the sector’s favor: stable revenue from increased refranchising activity, “very strong low-end consumer spending,” profits that are benefiting from digital enhancements, and higher checks and traffic thanks to increased access to delivery service.
And customers are sensitive to delivery charges, with a Goldman consumer survey showing that the majority won’t spend more than $6 for a delivery order.
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