McDonald’s Continues to Outperform Fast-Food Peers
The fast-food giant McDonald’s Corporation (NYSE:) has been on a strong upward trajectory in recent months, with a 20% rally since October that shows no signs of slowing down. The company’s shares are now just a few dollars away from reaching their all-time high achieved earlier this summer, and it is highly likely that they will surpass this milestone in the near future. The stock’s relative strength index (RSI) recently reached its highest level since 2017, indicating strong buying momentum. Looking ahead to the first quarter of 2024, analysts at Jefferies predict that McDonald’s will continue to outperform other restaurant stocks. With a “buy” rating and a price target of $330, this suggests further gains of at least 10% for the company’s shares.
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