NEW YORK (TheStreet) -- McDonald's Corp. (MCD) - Get Report stock is advancing 0.96% to $124.35 on Tuesday after analysts at Credit Suisse issued a bullish note earlier this morning, lifting their price target to $135 from $130.
The firm, which reiterated its "outperform" rating on the stock, has reinforced confidence in McDonald's recovery.
In the note, analysts raised their fiscal 2016 first quarter same-store sales estimates to 4.5% from 3.8%. The company will post these results along with its first quarter earnings on April 22.
The forecast revision is in part because first quarter same-store sales are running "comfortably in the positive mid-single digit range," analysts said, citing successful value promos, continued contribution from all-day breakfast, and improvements in its operations.
Analysts also applauded the company's digital menu boards.
Based in Oak Brook, IL, McDonald's operates and franchises McDonald's restaurants in the U.S., Europe, the Asia/Pacific, the Middle East, Africa, Canada, and Latin America.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, notable return on equity, expanding profit margins and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles' author.
You can view the full analysis from the report here: MCD