McDonald's (MCD) - Get Report was rated 'buy' at MKM Partners, which also set a $250 price target on the global fast-food giant's stock when it initiated coverage Tuesday. MKM Partners said it believes McDonald's strong domestic and international sales growth is sustainable.
Shares of McDonald's rose 1.03% on Tuesday to $219.40. MKM's price target of $250 implies a 15% increase from McDonald's opening price of $218.64.
McDonald's has a consensus price target of $230.97, according to the analysts polled by Bloomberg. The stock has 26 buys ratings, nine holds and no sells ratings, according to Bloomberg.
In the recently reported second quarter, McDonald's beat on comparable-store sales estimates as earnings matched Street forecasts for the Dow component.
The company announced Tuesday a $1 deal that allows customers to pick a second item for $1. The select items include the Big Mac, Quarter Pounder, Filet-O-Fish and Chicken McNuggets.