McDonald's recent underperformance and CEO shake-up is creating 'future upside,' says RBC

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Recent uncertainty around McDonald's performance and leadership sets up an attractive opportunity for investors in the fast-food chain, according to RBC Capital Markets.

The firm initiated coverage of McDonald's with a outperform rating and a $218 price target. The stock closed at $195.35 on Monday, implying more than 10% upside from here.