McDonald's (MCD) PT Lowered to $315 at BMO Capital

BMO Capital analyst Andrew Strelzik lowered the price target on McDonald's (NYSE: MCD) to $315.00 (from $330.00) while maintaining a Outperform rating.

The analyst commented, "MCD’s 2Q24 EPS of $2.97 missed consensus by $0.10 reflecting comp shortfall across segments. Pressures continued into July, though $5 meal deal is driving participation and additional value programs are on horizon. We reduce estimates and lower target to $315 owing to tempered comp assumptions. However, we believe MCD is among best positioned for value-oriented consumer backdrop. With potential for sales inflection, easing comparisons, and relative earnings visibility, valuation (20-21x EPS, ~15x EBITDA our 2025 estimates) creates attractive opportunity to capitalize given MCD’s competitive advantages and steady long-term growth potential."

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