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Traders are betting on McDonald's after stock upgraded twice

The "Fast Money" traders discuss McDonald's stock after the company's stock was upgraded by twice, once on Monday and Tuesday.

Wells Fargo and Bernstein upgraded the fast-food chain after the company announced it is working to have mobile ordering at all its sites and it will begin making its Quarter Pounder burgers with fresh beef in some stores. The company has also had success with multiple sizes of its signature Big Macs.

Trader Guy Adami said McDonald's could be a $160 stock with its use of technology. The stock closed at $132.30 on Tuesday.

Trader David Seaburg said he likes the company as a name to stay in for the long term.

Disclosures:

Pete Najarian owns calls AXP, BAC, BZH, C, CHK, CLF, DAL, ETP, FB, FSLR, GE, HAL, HMY, JPM, KMI, MAR, MLCO, MRO, RF, TBT, TCK, UNP, VALE, WFM, WFT, XLF, XLNX, ZIOP. Pete is long stock AAP, AAPL, AMD, BAC, CL, DLTR, DIS, EBAY, EMR, GILD, GM, HAIN, HUM, IBM, INTC, JWN, K, KO,KORS, KMX, LUX, MAR, MDLZ, MSFT, MRK, PFE, RL, STX, TPX, TRN, UNP, V, WDC, WFT.

Karen is long AAL, BAC, BAC short calls, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GOGO, GOOG, GOOGL, GS calls, JPM, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WFM. Her firm is long ANTM, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.

"Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT.
Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore"

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.