Concerns about performance deterioration due to closure of local stores following the Russia-Ukraine war This article was published on the “Hankyung Global Market,” the largest overseas investment information platform in Korea.
Morgan Stanley has downgraded its target price for McDonalds.
According to CNBC on the 17th, Morgan Stanley analyst John Glass lowered his target price for McDonalds from $294 to $287 after McDonalds closed stores in these two countries due to the Ukraine-Russian war. At the same time, we also lowered our 2002 annual sales estimate for McDonalds by 8%.
He explained that Russia and Ukraine account for 9% of McDonalds sales and 3% of operating profit. McDonalds, which entered Russia 30 years ago, said it would cost $50 million a month to close its Russian stores. McDonalds shares closed at $238.14 on the 16th.