From Earlier: Bank of America Lowers McDonald's PO

Bank of America Merrill Lynch lowered its McDonald's MCD price objective from $107 to $103 in a research report published today. Bank of America Merrill Lynch has a Buy rating on the company. In the report, Bank of America Merrill Lynch stated, "The company continues to gain share in key U.S. and European markets, and the stock's traditional defensive characteristics matter in a choppy market. MCD shares also offer a 3%+ yield, with another dividend increase highly likely late this year." Shares of McDonald's were trading at $88.06 at the time of posting, down 0.37% from Thursday's market close.