MSFT 414.2162 -0.3066% AAPL 228.5 -0.2183% NVDA 146.7395 0.5823% GOOGL 167.89 -4.5971% GOOG 169.5501 -4.3872% AMZN 198.38 -2.2181% META 563.1866 -0.4126% AVGO 164.04 0.4839% TSLA 340.34 -0.4941% TSM 190.62 1.1998% LLY 748.98 -0.588% V 309.9 0.8166% JPM 244.85 1.6903% UNH 597.49 -0.5012% NVO 102.79 -2.3558% WMT 88.39 1.3879% LVMUY 120.53 -0.9044% XOM 122.0297 1.421% LVMHF 603.0 -1.1492% MA 514.67 0.4156%

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Wells Fargo upgrades McDonald’s on product value, innovation benefits

Summary

‘Burger giant McDonald’s (NYSE: MCD) received a rating upgrade from brokerage Wells Fargo. The broker upgraded MCD to ‘overweight’, leading to a 1% gain in the stock’s price on September 7, 2023.

The broker is also positive on KFC’s parent company Yum Brands (NYSE: YUM) as it believes both MCD and YUM are “well-positioned to weather a storm”. The storm here refers to a probable decline in consumer spending amid rising interest rates, gas prices and looming student loan payments.

As per Refinitiv data, McDonald’s has a mean recommendation rating of 2 on a scale of one to five. Here, one signifies a ‘strong buy’ rating, while five represents a ‘strong sell’ rating. This rating is a cumulative result of the ratings given by 39 analysts.

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