UPDATE: Credit Suisse Raising Price Target on McDonald's

Credit Suisse is out with a research report on McDonald's Corp MCD and is raising its price target to $104 from $97, and it has a Outperform rating on shares. In a note to clients, Credit Suisse writes, "A great run, and still plenty of reasons to own the shares: MCD has a clear roadmap to 10% EPS growth for the next several yrs and offers a 3.1%, "better than a bond" dividend yield. We don't see much multiple expansion from its current 16.5x; however, we are very comfortable owning shares for a 13%-14% return - it comes with top-line risks biased to the upside and looks even more compelling on a risk-adjusted basis." Shares of MCD gained $3.31 yesterday to close at $92.32.