McDonald’s price target lowered to $300 from $305 at Baird

Baird lowered the firm’s price target on McDonald’s to $300 from $305 and keeps an Outperform rating on the shares. The firm said Q1 results were near estimates, but MCD signaled a soft start to Q2 and expectations for 2024 comps below prior expectations, prompting a reduction to 2024-2025 EPS estimates.