Piper Sandler Bumps Up McDonald's Price Target By 21%

Piper Sandler analyst Nicole Miller Regan upgraded McDonald's Corp MCD to Overweight from Neutral with a price target of $282, up from $232, implying a 5.21% upside.
The analyst said recent survey work had left her "incrementally confident" around McDonald's "industry-leading" ability to deliver on consumers' preference for drive-thru experiences and elevated demand for a core hamburger and chicken cuisine categories.
While the cost pressures and operational challenges facing the broader industry are real, McDonald's is "uniquely positioned" to leverage its size, scale, operational capabilities, and ongoing investments to take share as it "leans into the high-level consumer trends highlighted by our latest survey," Miller added.
The analyst also said the company's recent recommitment to share repurchase "rounds out its total return policy."
Price Action: MCD shares are trading higher by 1.09% at $271 in premarket on the last check Monday.