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McDonald's, Yum Brands, Chipotle Climb Following Evercore Initiation

Tony Owusu

were rising Wednesday after analysts at Evercore initiated coverage on the fast-food restaurants with bullish ratings and price targets. McDonald's was initiated with an outperform rating and $225 price target, which represents an 11% upside from its previous closing price. "McDonald's stock and its company have come a long way in the transformation under Steve Easterbrook since 2015, and to some degree we believe this is already recognized with the stock trading at 23.8x 2020 EPS," the note read.