NEW YORK ( TheStreet) -- McDonald's ( MCD) shares are down -0.9% to $92.87 on Tuesday after the company announced that it was overhauling the process for scrutinizing its Chinese meat suppliers by upping the number of spot check audits and appointing a new food safety chief.
The move is a direct response to the tainted meat scandal that saw its meat and vegetable supplier's Chinese unit be investigated for repackaging expired chicken and beef to sell.
McDonald's has since suspended doing business with OSI Group in China and replaced it with other suppliers in the region.
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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 a few notable 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."