The world’s largest restaurant chain is showing signs of tarnish on the Golden Arches.
Goldman Sachs downgraded shares of McDonald’s (MCD) on Wednesday morning, as analyst Michael Kelter slashed both his buy rating and price target on the burger giant.
Challenges overseas and resurgent competition have Mickey D’s reporting a slowdown in growth, and that’s probably not going to turn around anytime soon.
Last week’s report was sobering. McDonald’s saw worldwide comparable-store sales at its eateries rise by a mere 3.3% for the month of May. That’s a positive number, but it’s far slower than the growth that investors were expecting; competitors are eating Ronald’s lunch in Asia.