Credit Suisse Cuts Estimates for McDonald’s (MCD)
Credit Suisse reported on Tuesday that they have reduced estimates for fast food chain, McDonald’s Corporation(MCD).
The firm has lowered its estimates for MCD through 2014 due to a decline in franchise margins during October and November. Analysts have given the company a rating of “Outperform,” and a price target of $100. This price target suggests a 10% increase from the stock’s current price of $89.26.
McDonald’s shares were mostly flat during Tuesday morning trading. The stock is down -11% YTD.
The Bottom Line
Shares of McDonald’s (MCD) have a 3.44% dividend yield, based on last night’s closing stock price of $89.41. The stock has technical support in the $84 price area. If the shares can firm up, we see overhead resistance around the $90-$92 price levels.
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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