Citi Maintains Neutral Rating and $94 PT on McDonald's

A report from Citi reiterates its Neutral rating and $94 price target on McDonald's MCD. The report states, “We attended MCD's Analyst Day and came away encouraged w/the co's l-t biz tone. While nothing truly incremental came out of the meeting, MCD remains laser focused on its main global priorities of menu optimization, modernizing the customer experience and broadening accessibility to its brands. We believe these efforts should help MCD further extend its share vs. the informal eating out (IEO) market l-t.” MCD closed yesterday at $93.16.