Please select the second broker

Author: Alan LittleDate: 2020-10-06

McDonald’s (MCD) and Starbucks (SBUX) shares tick 2% higher

McDonald’s (MCD) shares climbed 2% in Monday’s trading after analysts talked up the fast-food company’s recent menu innovation, strong sales and competitive edge.

McDonald’s (MCD) shares rose steadily on Monday after Bank of America increased its price target for the fast-food company and CNBC’s Jim Cramer said that it was the “kind of stock you want to own”. Cramer admitted that McDonald’s has lagged behind the broader market in 2020 but believes that it is a “very high-quality company”, and pointed to a surge in ‘drive-thru dining’ as a major upside as the pandemic continues. Bank of America is similarly bullish after setting a new 12-month price target of $250 on Monday, which is a new high for Wall Street and 10% higher than the current trading price.

Stifel’s Chris O’Cull noted last week that McDonald’s is outperforming its peers, thanks to its recent menu innovation and pivot to alternative ordering options. He added that traffic levels were strong in September, rising well above those recorded in July and August, which bodes well for the company. Surprisingly, considering the challenges associated with COVID-19, traffic was only down 25% from September a year ago.

While MCD has not made notable share gains this year, it remains in the black to the tune of around 11% since 1st January. The modest gains continued on Monday as shares were up 1.16% at 12:50 pm ET on the Nasdaq. The latest $225.40 share price is higher than the consensus price target of $216.12. MCD currently has 21 buy ratings and eight hold ratings with a consensus at buy.

Starbucks (SBUX) shares also climbed 2% on Monday after Oppenheimer said that the coffee chain should be viewed by investors as an “actionable buy idea”. Analyst Brian Bittner added: “The attractive earnings power that accompanies a sales recovery is now underappreciated by investors”.

Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.