Evercore ISI hikes McDonald's price target, calls it an international reopening play

An employee wearing protective gloves handles an order at a prototype location of fast food giant McDonald's for restaurants which respect the 6ft social distancing measure.
Piroschka van de Wouw | Reuters

Shares of McDonald's could get a boost ahead of the reopening of Europe and other international markets, similar to the gains U.S. restaurant stocks saw during the winter, Evercore ISI said Monday.

The firm raised its price target on the stock, highlighting potential tailwinds from McDonald's international footprint and technology build-out.