There Were Simply No Bright Spots In McDonald’s Disappointing 3Q14 Results, Says Oppenheimer
In a research report issued today, Oppenheimer analyst Brian Bittner maintained a Perform rating on McDonald’s Corporation (NYSE:MCD) , following the company’s third-quarter results. No price target was provided.
Bittner said, “With no quick fixes to reverse MCD’s domestic share losses, macro pressures weighing on Europe and effects of food crisis crippling Asia, we reiterate our Perform rating. There were simply no bright spots in a disappointing 3Q with sales/margin weakness across all regions. October not getting better with comps expected to remain “negative.” Consensus projects a sustained comp turn to “positive” beginning 1Q15, which feels increasingly optimistic. Shaving ’14/’15 EPS numbers again.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Brian Bittner has a total average return of 12.8% and a 66.7% success rate. Bittner is ranked #298 out of 3337 analysts.