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Author: Alan LittleDate: 2022-01-04

McDonald’s (MCD) +0.19% after Piper Sandler’s rating upgrade

McDonald’s (MCD) shares rallied late in the afternoon on Monday after Piper Sandler said that the fast-food giant is “uniquely positioned” to gain market share.

McDonald’s (MCD) got a stock rating upgrade from Piper Sandler on Monday on its “industry-leading” knack for aligning its food menu and drive-thru experiences with customer preferences.

Analyst Nicole Miller Regan set a higher overweight rating and raised her price target from $232 to $282 at the start of the new week after talking up the company’s positive attributes.

Regan said that while the Chicago-based company is grappling with operational challenges and rising costs like its rivals, it remains “uniquely positioned” to increase its market share in a competitive industry.

The firm’s brand image does much of the heavy lifting, but Regan also praised its ability to spot elevated demand for specific hamburger and chicken products and tailor its offerings accordingly.

While the bullish note did not translate to considerable share gains as McDonald’s traded up 0.19% late in the afternoon, it does suggest that the fast-food giant is on course for another impressive year.

Investors can look to its impressive Q3 report, which was published in October, as evidence that growth is very much on the agenda in 2022.

Same-store sales jumped 12.7% globally and 9.6% in the US during the latest quarter, while earnings per share soared 42.2% to $2.86 and revenue climbed 14.4% to $6.2bn.

Those figures breezed past the Wall Street consensus as higher-priced products and larger orders boosted the firm’s bottom line.

The next earnings season will get underway this month, and McDonald’s will be among the first to report, with its Q4 returns set to be disclosed on 24th January.

MCD was relatively flat on Monday in New York, with a brief morning rise followed by a midday slump and then a late rally as shares traded at $268.58.

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