Fast food king McDonald's Corporation ( MCD ) on Monday saw its price target and earnings estimates lowered by analysts at UBS.
The firm maintained its "Buy" rating, but said it now expects MCD shares to reach $96. That new target suggests a 13% upside to the stock's Friday closing price of $85.03.
UBS also lowered its earnings estimates for MCD, citing weaker-than-expected August same-store sales.
McDonald's shares fell 58 cents, or -0.7%, in premarket trading Monday.
The Bottom Line
Shares of McDonald's ( MCD ) have a 2.87% dividend yield, based on Friday's closing stock price of $85.03. The stock has technical support in the $80-$82 price area. If the stock can firm up, we see overhead resistance around the all-time high levels of $88-$91 a share.
McDonald's Corporation ( MCD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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