Canaccord analyst Lynne Collier chimes in on McDonald’s Corporation (NYSE:MCD) after the burger giant released “solid” third-quarter earnings “despite industry headwinds” with same-store sales (SSS) that rose 1.3% year-over-year and outclassed expectations.

Nonetheless, the analyst remains sidelined on the giant and reiterates a Hold rating with a price target of $122, which represents a nearly 7% increase from where the shares last closed.

MCD delivered a “modest EPS beat” of $1.50, which is a 9% year-over-year surge forward, topping Collier’s and the Street’s projection of $1.48. “More importantly” from Collier’s perspective, MCD “notched better-than-expected comp results. While the U.S. comp was in line with the Street, we believe it was better than sentiment heading into the release.”

The company brought in revenue of $6,424.1 million, which topped the analyst’s expectation of $6,315.0 million and the Street’s $6,279.4 million. Additionally, adverse foreign exchange (FX) translation resulted in an impact of $0.03 on MCD’s third quarter.

For fourth quarter, consensus anticipates EPS of $1.41 on revenues of $5.96 billion.

As far as bullish takeaways, the analyst commends both, “solid comps in the U.S. despite the difficult laps and operating environment” as well as “International Lead, High Growth and Foundational comps all exceeded estimates.”

Yet, Collier is not without bearish concerns, underscoring, “Given this solid quarter in a difficult industry backdrop, we have little to comment on with respect to negatives. However there is increasing investor concern about 4Q given very tough y/y SSS laps in the U.S.”

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Lynne Collier is ranked #431 out of 4,183 analysts. Collier has a 70% success rate and realizes 10.2% in her yearly returns. When recommending MCD, Collier yields 5.6% in average profits on the stock.

TipRanks analytics demonstrate MCD as a Buy. Based on 19 analysts polled in the last 3 months, 11 rate a Buy on MCD, while 8 maintain a Hold. The consensus price target stands at $131.33, marking a 15% upside from where the stock is currently trading.screen-shot-10-21-16-at-09-23-pm