McDonald’s price target lowered to $310 from $315 at KeyBanc

KeyBanc analyst Eric Gonzalez lowered the firm’s price target on McDonald’s to $310 from $315 and keeps an Overweight rating on the shares. The firm notes McDonald’s delivered Q1 results short of consensus as global same-store sales growth continued to be pressured by geopolitical events in the Middle East and as consumers continue to pull back on out-of-home eating occasions. While U.S. same-store sales growth was slightly better than consensus and IOM same-store sales growth was likely better than feared, the company suggested same-store sales trends this year would be softer than initially anticipated after a sluggish start to Q2, KeyBanc says.