Reported 12 months ago
Guggenheim has reduced its price target for McDonald's stock from $315 to $280 per share due to softening sales, citing concerns about the current economic backdrop. Despite reiterating a Buy rating, the analyst note highlights short-term sales worries. The fast food giant's stock has declined 16% this year, prompting questions about a potential broader trend among consumer-facing companies facing economic challenges.
Source: YAHOO