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UBS has reiterated its Buy rating for McDonald's Corporation, the largest fast food chain globally. As of the end of 2023, the company operates 39,680 franchised and affiliated restaurants, accounting for 60.5% of net sales, while 2,142 are company-operated, representing 38.2%. Notably, 58.5% of net sales come from international markets.
UBS has maintained a "Buy" rating for McDonald's, setting a price target of $345. Analyst Dennis Geiger noted uncertainty regarding the impact of recent E. coli cases on the fast-food chain's revenue, but expects McDonald's to respond proactively to the risks.
A deadly E. coli outbreak linked to McDonald's Quarter Pounders has sickened 49 people across 10 states, resulting in one death and 10 hospitalizations. The outbreak, with the highest number of cases in Colorado, has prompted investigations by federal and state health officials.
Stocks faced pressure as the Dow and S&P 500 declined for a second consecutive day. Starbucks shares fell 4% after preliminary quarterly results showed sliding same-store sales, while McDonald's dropped 6% amid a CDC alert regarding E. coli cases linked to its Quarter Pounder burgers. Boeing saw a 5% increase over the week, and Coca-Cola is set to release its quarterly report, with its stock up 7% in the past three months.
Stock futures declined on Tuesday evening following the S&P 500's first back-to-back loss since early September, with Dow futures down 159 points and Nasdaq 100 futures dropping 0.2%. McDonald's shares fell 7% amid an E. coli outbreak linked to its Quarter Pounder burgers, while Starbucks tumbled 4% after reporting declining sales. Despite the recent downturn, analysts suggest the overall market trends remain positive, with upcoming earnings reports from major companies like AT&T and Tesla expected.
Senator Elizabeth Warren, along with Senators Bob Casey and Ron Wyden, has requested an explanation from McDonald’s CEO Chris Kempczinski regarding the chain's significant price hikes, which they argue have exceeded inflation rates. They emphasize that McDonald's dominant market position as the largest fast food chain in the U.S. greatly affects American consumers.
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