McDonald’s Corporation (NYSE:MCD) reported its Q2 results, with EPS of $2.55 coming in better than the Street estimate of $2.47. Revenue was $5.72 billion, compared to the Street estimate of $5.82 billion.
According to the analysts at RBC Capital, Q2 results were encouraging, despite the tough operating environment, with strong execution and momentum positioning the company well for H2/22.
While debates around the duration and depth of macro headwinds —as well as the health of the consumer—remain ongoing, the analysts believe the company is well-positioned to weather challenges ahead as the brand continues to seemingly balance both pricing for inflation and value for guests. Furthermore, momentum in the company’s digital and loyalty platforms remain sources of upside. The analysts raised their price target on the company’s shares to $305 from $292, while maintaining their outperform rating.
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