.August 19, 2024, 5:20 PM

McDonald’s (NYSE:MCD) saw a 3% increase in shares after Evercore ISI analysts upped the price target to $320, maintaining an Outperform rating. The analysts are optimistic about the US business recovery through 2024 and into 2025, citing improved market share trends and a stronger brand perception. Successful sales initiatives like commemorative cups have positively impacted Q3 sales. They expect McDonald’s to implement a value-driven, multi-tiered menu strategy, leading to stronger same-store sales growth. The analysts adjusted their 2025 US SSS estimate from 2% to 3%, reflecting confidence in McDonald’s long-term performance.