Jim Cramer: I'm lovin' McDonald's now

Cramer's Mad Dash: McDonald's upgrade

Investors looking for a good buy should look at McDonald's stock, CNBC's Jim Cramer said Tuesday.

"The changes are working, sales are turning up, [and] I am a believer in [CEO] Steve Easterbrook," Cramer said on "Squawk on the Street." He added that the company had a good balance sheet and a good yield.

Cramer made his remarks after Credit Suisse upgraded the fast food giant's stock to "outperform" from "neutral," citing higher projected same-store sales in the U.S., upside to current estimates and a favorable risk-reward ratio. The bank also raised its price target from $100 a share to $112.

"I like this. I've liked the restaurant group because the costs are going down," Cramer said. "I paid $1.80 per gallon this weekend … McDonald's fits my profile of what to buy."

The Dow Jones component was trading at $97.61 a share Tuesday morning, up more than 1.5 percent

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