Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

BoA Ugrades McDonald's to 'Buy'


Banc of America upgraded McDonald's (MCD) to buy from market perform.

Analyst Andrew Barish says the fast-food chain surprisingly and dramatically reduced its 2003 planned new restaurant openings to roughly half of the 2002 levels. Barish notes resources will be allocated to efforts to drive same-store sales, increase cash flow and improve margins and returns. Barish says the plan will reduce cannibalization, and put less operating pressure on the system. He cautions that fundamentals may not "turn on a dime" given McDonald's size, however, he thinks the restructuring efforts will be rewarded in the market. Barish sees $1.43 2002 earnings per share and $1.53 for 2003. He has a $25 target.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus