Analysts at UBS on Friday raised their price target and earnings estimates for fast food giant McDonald's Corporation ( MCD ).
The firm said it now expects MCD shares to reach $106, suggesting a 9% upside to the stock's Thursday closing price of $96.92. UBS also maintained its "Buy" rating and boosted its earnings estimates for the company, citing better-than-expected sales growth.
McDonald's shares, which have gained more than 26% year-to-date, rose 58 cents, or +0.6%, in premarket trading Friday.
The Bottom Line
Shares of McDonald's ( MCD ) have a 2.89% dividend yield, based on last night's closing stock price of $96.92. The stock has technical support in the $90 price area. The stock is trading right near all-time highs and has little overhead resistance.
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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