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McDonald's (MCD) Stock Higher on Ratings Upgrade

NEW YORK (TheStreet) -- Shares of McDonald's (MCD) were up in pre-market trading on Tuesday after Baird raised its rating on the stock to "outperform" from "neutral."

The firm increased its price target on shares of the Oak Brook, IL-based fast food giant to $128 from $126.

The stock's balance of risks and rewards has become more favorable following underperformance so far this year, Baird wrote in a note cited by TheFly.

McDonald's "attractive" dividend yield should help protect against further downside risk, the...


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