"China is a major focus and the stock has a potential longer-term to have a higher multiple as the China story unfolds, similar to what Yum! Brands ( YUM) has benefited from in the last couple of years," Oppenheimer analyst Matthew DiFrisco said in appearance on CNBC. Like food and beverage peers Yum! and Starbucks ( SBUX), McDonald's has been looking overseas for growth.
McDonald's said in December it plans to grow its presence in China by 40% next year, opening 200 new stores in the country over the next three years. -- Written by Miriam Marcus Reimer in New York. >To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: firstname.lastname@example.org.