Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, April 28, 2023

Article Excerpt

MCDONALD’S CORP., $295.75, New York symbol MCD, is your #1 Conservative Buy for 2023. The company is the world’s largest fast-food chain with over 40,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. The stock hit a new all-time high of $296.18 this week after reporting stronger-than-expected first quarter results. Despite raising its selling prices in response to higher costs for food, fuel and labour, customer traffic remains strong. In the quarter ended March 31, 2023, McDonald’s revenue rose 4.1%, to $5.90 billion from $5.67 billion a year earlier. That topped the consensus forecast of $5.57 billion. Plus, if you adjust for currency rates, revenue improved 8%. Overall same-store sales rose 12.6% thanks to gains for all three of its divisions: U.S., up 12.6%; International Operated Markets (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), up 12.6%; and International Developmental Licensed Markets (mainly outlets in China, Japan and remaining…