Shares of Mcdonald's hit a 4-month high Thursday as Kalinowski Equity Research named the burger chain its top restaurant-stock pick. The firm raised McDonald's to buy from neutral with a target price of $191.
The call comes nearly one month after McDonald's rolled out a domestic fresh-beef initiative, which analyst Mark Kalinowski thinks is helping lead to better U.S. same-store sales trends.
In a note to investors, Kalinowski said: "Based on our channel checks, we believe that McDonald's U.S. same-store traffic has turned positive over the two-month period encompassing April-May 2018. This follows a negative traffic period in Q1 2018."