Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, October 25, 2024

Article Excerpt

MCDONALD’S CORP., $292.61, New York symbol MCD, is still your #1 Conservative Buy for 2024. The company is the world’s largest fast-food chain with over 42,000 restaurants in 119 countries. It serves a wide variety of food but is best known for its hamburgers and french fries. The stock fell 8% this week after the U.S. Centers for Disease Control and Prevention (CDC) linked an outbreak of E. coli food poisoning to Quarter Pounder hamburgers served at McDonald’s restaurants. The outbreak has killed one person and sickened over 70 more in 13 states between September 27 and October 11. The CDC is still investigating, but the cause seems to be tainted onions from a single supplier. McDonald’s has since removed the Quarter Pounder from its menu in the affected areas. The company’s quick response should limit any long-term damage to its reputation. McDonald’s earnings will probably still rise about 8%, from $11.82 a share in 2024 to $12.75 in 2025. The stock trades at…