UPDATE: Piper Jaffray Raises Price Target on McDonald's to $108

According to Piper Jaffray, McDonald's MCD price target is raised to $108. Piper Jaffray said that upon conclusion of its proprietary November traffic analysis it is increasing its U.S. 4Q11 comp estimate to +4.7%. “We are maintaining our 4Q11 EPS estimate of $1.29, OW rating, and are increasing our price target to $108 (from $98 prior).” McDonald's closed on Friday at $95.70.