Services

One Analyst Sees Strong 2020 for McDonald's, Starbucks, Domino's and Darden

pinstock / Getty Images

This year is coming to a close with markets holding near all-time highs. At times like this, analysts like to update their perspectives on sectors and industries, as the new year is just around the corner.

In this case, RBC Capital Markets is taking a renewed look at the restaurant industry, and the firm sees some serious upside for some major names within the industry.

RBC issued an Outperform rating and a $218 price target for McDonald’s Corp. (NYSE: MCD). The firm was quick to say that recent moves to modernize stores and changes to leadership offer solid upside for the Golden Arches.

Also worth noting and not part of the new coverage by RBC: McDonald’s has announced that Ian Borden, most recently President, International Developmental Licensed Markets, has been appointed to President, International, effective immediately. Borden will continue reporting to Chris Kempczinski, McDonald’s president and CEO. This announcement follows the appointment of Joe Erlinger as President, McDonald’s USA.

As for Domino’s Pizza Inc. (NYSE: DPZ), RBC issued another Outperform rating, with a $337 price target. This comes after the stock fought some resistance near the $300 price level and its all-time high.

Rounding out the top picks by RBC, Starbucks Corp. (NASDAQ: SBUX) at Outperform with a $97 price target, Darden Restaurants Inc. (NYSE: DRI) at Outperform with a $135 price target and Restaurant Brands International Inc. (NYSE: QSR) as Outperform with a $77 price target.

Separately, Brinker, Chipotle Mexican Grill, Dunkin’, Texas Roadhouse, Wendy’s and Yum Brands were all started with Sector Perform ratings in the new RBC coverage.


Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.