McDonald's has been on fire, compiling a 22-week win streak as shares have rallied 22% over the past six months. But after approaching $154, shares have cooled off.
But McDonald's stock is up about 1% Tuesday after analysts at Bank of America/Merrill Lynch raised their price target to $175 from $165, TheStreet's founder Jim Cramer, who is also the manager of the Action Alerts PLUS portfolio, noted on CNBC's "Mad Dash" segment.
Cramer also pointed out that the analysts made positive commentary about McDonald's franchise business.
Perhaps one of the more interesting stories regarding McDonald's has been hiring. Not just any hiring, though, but how it's hiring some of its new employees. Cramer reminded investors that McDonald's is actually letting teens submit their application through Snap's Snapchat platform.
Some investors are actually buying Snap stock based on this news, Cramer reasoned. However, 900 million shares will come unlocked in August.
"Steel yourself if you're buying Snapchat off that McDonald's news," he explained, "be aware that there are some others that may not be as sanguine who can sell in August."
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