BMO: McDonald's is at all-time highs, and could go a lot higher (MCD)

McDonald's stock hit an all-time high Friday April 21of $133.86. And according toBMO equity analystAndrew Strelzik, the stock could go higher still. Strelzik initiated coverage of McDonald's on April 21 with an "Outperform" rating and $153 price target, implying 15% of potentialupside."We believe MCD is an attractive investment as a premium brand in the early stages of a turnaround in business momentum with a favorable risk/reward profile," he said in a note to clients.BMO says that one key driver of McDonald's future growth will be menu changes. These include more burger sizes like the new Mac Junior, the introduction of fresh, not frozen beef, $1 soft drinks, $2 McCafes, and further perfection of McDonald's all day breakfast, which has been a huge success.BMO says that McDonald's is on the verge of buying back stock equivalent to10-15% of McDonald's market cap over the next two years.McDonald's is also speeding up its technology initiative,adding more computerizedordering kiosksto more locations, Strelzik said. McDonald's will addordering kiosks to 2,500 US locations by the end of 2017 and nearly all locationsby 2020. Additionally,McDonald's has been investing in its app, and is expected to rollout a "pay and pick up" featurelike the one Wendy's is testing now.McDonald's is also planning to re-franchise China operations which will make for better international margins.Click here for a real time McDonald's chart.Join the conversation about this storyNOW WATCH: Congress just voted to allow your internet provider to sell your online history and data 'here's how to protect your privacy
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