Analysts at USB cut the 2013 earnings estimates for fast food giant McDonald’s Corporation (MCD) on Friday.
McDonald’s estimates were lowered by the USB analysts because of a weak October sales as well as weakening currency.
The price target of MCD is $96 price target, a +12.8% upside from Thursday’s closing price of $85.13.
McDonald’s shares were down 50 cents, or -0.59%, in premarket trading on Friday.
The Bottom Line
Shares of McDonald’s (MCD) have a 3.62% dividend yield, based on last night’s closing stock price of $85.13. The stock has technical support in the $80-$82 price area. If the shares can firm up, we see overhead resistance around the $90 price level.
McDonald’s Corporation (MCD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.