McDonald's has been stuck in slow motion for a number of years, but if it makes the right moves, it could produce some positive changes in the marketplace, analyst Bob Derrington said Friday.
The fast-food chain's most recent attempt at a turnaround rests with its all-day breakfast plan. According to USA Today, McDonald's is expanding its all-day breakfast test to Mississippi after finding success at its San Diego locations. Next month, it will hit Nashville, the paper said.
But for Derrington, restoring McDonald's will take a lot more than offering Egg McMuffins throughout the day.
"The food McDonald's serves gets a lot of low scores from a lot of different rating agencies …They built a business on convenience and value," the senior restaurant analyst for Wunderlich Securities said in an interview with CNBC's "Closing Bell."