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One of Wall Street's top analysts lowered his rating on McDonald's to neutral from buy on the prospects of weaker sales.
"Our downgrade is predicated on multiple factors, including slowing U.S. restaurant industry same-store sales trends during second quarter and tougher year-over-year comparisons that McDonald's U.S. begins lapping in the not-too-distant future," Nomura's Mark Kalinowski wrote in a note to clients Wednesday.
"While U.S. restaurant industry same-store sales trends remain weak — as they were in first quarter — it's clear that U.S. burger-sector same-store sales have decelerated meaningfully in second quarter."
