Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 3, 2023

Article Excerpt

MCDONALD’S CORP., $267.87, 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. McDonald’s continues to benefit from strong customer traffic, despite raising its prices in response to higher food and labour costs, as well as successful new product launches. In the quarter ended September 30, 2023, revenue rose 14.0%, to $6.69 billion from $5.87 billion a year earlier. That topped the consensus forecast of $6.55 billion. Overall same-store sales rose 8.8% thanks to gains for all three of its divisions: U.S., up 8.1%; International Operated Markets (Australia, Canada, France, Germany, Italy, the Netherlands, Spain and the U.K.), up 8.3%; and International Developmental Licensed Markets (mainly outlets in China, Japan and remaining markets), up 10.5%. McDonald’s earnings in the latest quarter also gained 16.9%, to $2.32 billion from $1.98 billion. Due to fewer…