McDonald's shares were upgraded to overweight from neutral by a Piper Sandler analyst.
Analyst Nicole Miller Regan also raised her price target on the fast food chain's shares to $282 from $232. According to Regan, McDonald's is "uniquely positioned" to gain market share notwithstanding cost pressures and operational headwinds. The analyst mentioned that recent survey work led to her being "incrementally confident" around McDonald's "industry-leading" skills for drive-thru experiences and strong demand for core hamburger and chicken cuisine categories.
Despite cost pressures and operational challenges facing the industry, Regan said that McDonald's is "uniquely positioned" to leverage its size, scale, operational capabilities, and investments to take market share.