“We see a solid MCD setup into FY24,” says Wells Fargo analyst Zachary Fadem
McDonald’s Corp., which reported better-than-expected third-quarter results before market open Monday, is well positioned for 2024, according to Wells Fargo.
“Despite a lukewarm response, we see a solid MCD setup into FY24,” Fadem added. “Rates & slowing comps are headwinds, but share gains are evident.”Fadem noted that McDonald’s maintained quick service restaurant traffic share with gains in beef and chicken. Additionally, the company’s service times improved by 9 seconds during the quarter.
Set against this backdrop, Wells Fargo maintained its overweight rating for McDonald’s. Of 36 analysts surveyed by FactSet, 27 have an overweight or buy rating and nine have a hold rating for McDonald’s. McDonald’s shares rose 2.1% Monday, outpacing the S&P 500 index’s SPX gain of 1.3%, boosted by the fast-food restaurant giant’s better-than-expected third-quarter earnings and sales.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
How voting registration has changed in key states ahead of 2024Jack Birle is a breaking news reporter for the Washington Examiner. A 2022 graduate of Villanova University with majors in communication and political science, he has previous journalism experience with the Center Square and as a fellow with the National Journalism Center. He was born in Pennsylvania and grew up in Southern California.
Leer más »
Indonesia candidates call on president to remain neutral ahead of 2024 pollTwo potential successors of Indonesia's outgoing President Joko Widodo on Monday called on him to remain neutral in the run-up to next year's election amid public criticism he may be trying to retain power after leaving office.
Leer más »
Advocates test out new abortion strategies ahead of 2024This year brings some data points for how voters feel about abortion rights.
Leer más »
Kamala Harris assures ‘Joe Biden is very much alive’ ahead of 2024 concernsVice President Kamala Harris dismissed the concerns about whether Biden’s age or stamina would prevent him from taking part in the 2024 presidential election.
Leer más »
2024 Kia EV6 adds two Light Long Range trims and no price changesGet in-depth info on the 2024 Kia EV6 including prices, specs, reviews, options, safety and reliability ratings.
Leer más »