By Dhirendra Tripathi
Investing.com – McDonald’s stock (NYSE:MCD) rose 1% in Monday’s premarket trading after Piper Sandler put a price target of $282 on it, 5.2% higher than its Friday close of $268.07.
Analyst Nicole Miller Regan is now overweight on the stock compared to being neutral on it earlier with a target of $232 for it.
Piper expects continued topline momentum which it believes can help drive consistent execution at the fast-food chain.
McDonald's is uniquely positioned to leverage its size, scale, operational capabilities, and ongoing investments to take share as it leans into the high-level consumer trends, the analyst wrote in a note.
The fast food burger chain's recent recommitment to share repurchases "rounds out its total return policy," the analyst added.
McDonald's said in October it was resuming its share buybacks. The company had in December 2019 decided to buy back shares worth up to $15 billion. Much of that program is still unfinished.