Sterne Agee Raises McDonald's PT in Light of Strong Performance

According to a research report published today, Sterne Agee is increasing McDonald's MCD PT from $106 to $109 following an impressive 4Q. “While non-operating items provide a modest headwind to EPS growth, we continue to believe that MCD is the best positioned player in QSR to gain market share given significant marketing power, an entrenched value perception, new menu innovation and upgraded facilities. We are reiterating our BUY rating and raising our target price to $109 from $106,” Sterne Agee said in the report. McDonald's closed yesterday at $98.75.