McDonald’s Shares Fall on Brexit Worries

Shares of McDonald's (MCD) - Get Report tumbled in Monday's trading alongside the broader Brexit-induced sell-off. Also not helping the fast food chain was  analysts at Credit Suisse lowering their price target on McDonald's to $130 from $135 following Thursday's Brexit vote. By the analyst's measure, nearly 37 percent of McDonald's revenue comes from Europe, with nearly nine percent coming from the UK alone. The lowered price target was also due in part to a pullback in customer spending and traffic as excitement over promotions begins to wane.