Piper Jaffray analyst Nicole Miller Regan downgraded McDonald's to Neutral citing the stock's 12% rally over the past month. Regan says her industry conversations suggest the �number and relative complexity� of the fast food giant's initiatives under new management may lead to a longer than expected recovery. She believes the stock is likely to remain range-bound over the coming year and keeps a $97 price target on the name. McDonald's closed yesterday up 51c to $100.25 after RBC Capital analysts upgraded the shares to Outperform.
Citi analyst Jon Tower raised the firm's price target on Krispy Kreme (DNUT) to $19 from $14 and keeps a Neutral rating on the shares. The company's "long-awaited" McDonald's (MCD) partnership came in better than expected, with Krispy Kreme set to see its products sold at most U.S. locations by 2027 versus earlier discussions of a couple thousand stores, the analyst tells investors in a research note. The firm estimates this partnership alone could add $400M in revenue and $85M in EBITDA after full rollout. While execution risk remains, the news is "clearly a positive" for Krispy Kreme and investors, providing greater sales visibility for a brand that's been struggling with GLP-1 headlines and softer spend from lower-income consumers, says Citi.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Krispy... To see the rest of the story go to thefly.com. See Story Here