NEW YORK (TheStreet) --McDonald's (MCD) - Get Report stock is up 0.22% to $96.46 in early morning trading Friday after Barclays increased its price target to $105 from $96, while maintaining an "overweight" rating. 

Analysts remain bullish on McDonald's shares, and believe a broad-based turnaround is the top priority for the newly promoted CEO, Steve Easterbrook, the firm noted. 

"While we believe the turn will come, reversing trends at 36k global restaurants will take time," analysts said.

In addition, the two primary options for change are simplification of the existing menu or a menu overhaul to more customized/premium offerings, Barclays explained.

"With Easterbrook acknowledging a need for change, a willingness to reconsider all options, and identifying himself as a 'constructive agitator' and 'internal activist,' we expect McDonald's will readdress these opportunities near-term, with color likely at their Meet & Greet Session in NYC on March 26," Barclays said. 

Analysts said that they believe an incremental $10 billion opportunity exists, equally driven by refranchising, leverage, and general and administrative expense reductions. 

Insight from TheStreet's Research Team:

Bret Jensen commented on McDonald's in a recent post on RealMoneyPro.com. Here is what had to say about the stock:

Next up is McDonald's (MCD), whose stock has had a very nice run over the last six weeks thanks to low gasoline prices that are boosting restaurant shares, a new CEO and some more positive commentary from analysts.

All that is wonderful, but it will not fix Mickey Ds underlying problems overnight, which include a complicated menu, no domestic same-store growth, being out of tune with the march toward healthier food and currency impacts given it derives over one-third of its revenues from Europe.

-Bret Jensen, 'Three Large-Cap Stocks to Avoid' originally published 3/5/2015 on RealMoneyPro.com

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Separately, TheStreet Ratings team rates MCDONALD'S CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate MCDONALD'S CORP (MCD) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its notable return on equity, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: MCD Ratings Report