UPDATE: Deutsche Bank Raises PT to $108 on McDonald's Corporation; Comps Recovering

Deutsche Bank maintained McDonald's Corporation MCD with a Buy rating and raised the price target from $102.00 to $108.00. Deutsche Bank said, "Feb global SSS were generally in line with expectations at -1.5% vs. DBe -1.2% and Consensus Metrix -1.6%, as Feb was up against the toughest compare of the year. MCD's US business widened its SSS gap to peers suggesting the segment is getting back on track and taking share. This combined with easier compares beginning in 2Q, relatively stable trends in Europe, and attractive valuation (16.5x NTM P/E vs. industry at 20x) keeps us at a Buy." McDonald's Corporation closed at $98.71on Friday.