Despite a sharp decline in McDonald's 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."
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.