McDonald’s Soars to All-Time High After This Happened

Shares of fast food giant McDonald’s were soaring on Tuesday and hit an all-time high of $206.39.

The big move came after the company announced on Monday that after oen year of serving fresh beef Quarter Pounders all across the U.S., the company had seen an increase in burger share in the “informal eating out category” for the first time in five years.

The company’s fresh beef burgers were introduced last May.

“We’re proud that taste and food quality drives sales,” remarked Chris Kempczinski, President McDonald’s U.S.
The company saw Quarter Pounder sales increase 30% on average “throughout the entire first year. And ultimately, McDonald’s sold 40 million more quarter-pound burgers in Q1 2019 than in Q1 2018.”

It was also on Tuesday that Credit Suisse initiated coverage on McDonald’s, giving the stock an “outperform” rating and $230 price target.”

“[W]e believe the company is effectively expanding its competitive moat relative to peers. SSS represent the greatest source of upside to shares, with MCD’s slate of on-trend sales initiatives supporting outperformance,” said a Credit Suisse analyst.

Shares of McDonald’s pulled back on Wednesday.

Disclaimer: We have no position in Mcdonald’s Corp (NYSE: MCD) and have not been compensated for this article.