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McDonald’s stock: MCD pulls back from $335 high as Argus upgrades; traders watch new McCafé drinks
McDonald’s (MCD) stock pulled back from a high of $335, closing at $327.58, despite an upgrade to Buy by Argus with a $380 price target, and a Jefferies price target increase to $375. The company is focusing on expanding its McCafé beverages, with a successful 500-store test showing increased sales and predictions for significant comparable sales growth from new CosMc’s-inspired drinks. Investors are also anticipating the return of seasonal items like the Shamrock Shake and upcoming macroeconomic data that could influence consumer stocks.