Buy McDonald's on the dip, ahead of strong first-quarter sales: Jefferies

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Investors should buy McDonald's stock on the dip ahead of strong first-quarter sales, Jefferies advised its clients Friday.

"Although the quick service restaurant category remains very competitive/promotional, the data reflects continued underlying brand improvement at McDonald's in addition to what we believe will be tangible 2018 same-store sales drivers," analyst Andy Barish wrote on Friday. "We remain buyers of McDonald's on the recent pullback with a $200 price target."