Oppenheimer upgraded McDonald's Corp. (MCD) to 'Outperform,' moving the stock up from its previous 'Market Perform' rating.
The firm established a $355 price target for the fast-food giant's stock.
This new target exceeds the current mean target price of $334.32. That consensus figure is based on an 'overweight' rating from analysts polled by FactSet.
The upgrade signals a bullish outlook from the investment firm regarding MCD's future performance. Available reports did not detail any specific market reaction to the rating change.