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Actionable news in MCD: MCDONALD'S CORPORATION,

Here's Why McDonald's (MCD) Stock Is Higher Today

NEW YORK (TheStreet) -- McDonald's (MCD - Get Report) stock is advancing 0.87% to $111.84 in early afternoon trading on Friday, following an upgrade to "overweight" from "neutral" at Piper Jaffray.

The firm increased its price target to $130 from $95 on the stock.

The world's top burger chain reported 2015 third quarter earnings results ahead of estimates yesterday, with stronger-than-expected same-store sales and expectations for positive same-store sales in the fourth quarter, Piper Jaffray said in a note.

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McDonald's will likely continue to leverage its economic advantage in sheer size against its competitors, and management is executing strategy "from a position of strength," the firm adds.

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