Topic: How To Invest

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

Article Excerpt

MCDONALD’S CORP., $294.03, 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. Despite raising its selling prices in response to higher costs for food, fuel and labour, customer traffic remains strong. That’s because its prices are still generally lower than its competitors. In the quarter ended June 30, 2023, McDonald’s revenue rose 13.6%, to $6.50 billion from $5.72 billion a year earlier. That topped the consensus forecast of $6.29 billion. Overall same-store sales rose 11.7% thanks to gains for all three of its divisions: U.S., up 10.3%; International Operated Markets (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), up 11.9%; and International Developmental Licensed Markets (mainly outlets in China, Japan and remaining markets), up 14.0%. McDonald’s earnings in the latest quarter jumped 22.7%, to $2.32 billion from $1.89 billion…