Cramer: Can't shake faith in this fast food stock
Despite a sharp decline in McDonald's (MCD) same-store sales in the U.S. and increasing concerns about the food chain, CNBC's Jim Cramer says it's hard to write off the global fast food company.
One good month of same-store sales in the United States could push the stock to $103 per share-up from its $94.65 in early trading Monday-Cramer said on " Squawk on the Street ." While Cramer remains cautiously optimistic on McDonald's stock potential, he has made a habit of avoiding fast food, he said.
"That's because people have faith that [McDonald's CEO] Don Thompson is going to pull it out, and you know what?" Cramer said. "I do too. In the end this is a place for people who are not wealthy to enjoy a meal. I stopped taking my kids here years and years ago. I'm concerned about the food chain."
(Read more: Europe, China help McDonald's offset soft U.S. sales in January )
McDonald's on Monday reported better-than-expected growth abroad as sales in Europe and China helped overcome a marked decline in U.S. revenue. The company credited the domestic slowdown on frigid weather that kept consumers indoors. Cramer, however, linked the slowdown to a growing movement toward natural and organic foods.
Cramer said McDonald's has a "Buck Marshall" problem, referring to the antagonist from the coming original online series, "Farmed and Dangerous." The show pokes fun at industrial-scale farming and corporate influence over the food chain.
(Read more: Chipotle blurs lines with a satirical series about industrial farming )
Chipotle Mexican Grill (CMG) is producing the series and plans to release it through streaming-TV service Hulu on Feb. 17.
"This is unbranded," Cramer said. "This is a new kind of messaging, basically taking aim at the food chain. That is going to hurt McDonald's."
-By CNBC's Jeff Morganteen. Reuters contributed to this report. Follow him on Twitter at @jmorganteen and get the latest stories from "Squawk on the Street."
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