Shares of McDonald's Corp. climbed 1.1% in morning trade Monday, after the fast food giant was upgraded by Instinet analyst Mark Kalinowski, who said investor fears about slowing same-store sales are overblown. Kalinowski raised his rating to buy from neutral, and lifted his stock price target to $139--16% above current levels--from $126. "Our checks suggest that November should end up as one of the best same-store sales months for the quick-service burger sector in 2016, with McDonald's playing a key role in this despite lapping difficult comparisons," Kalinowski wrote in a note to clients. He said that although it is difficult to pinpoint the reason for the same-store sales improvement, it is nevertheless important that sales don't appear as bad as anticipated. "Once investors obtain more comfort with this, those that have been avoiding the stock due to these difficult comparisons may choose to re-enter it," Hargreaves said. The stock has gained 1.2% year to date, while the Dow Jones Industrial Average has run up 11%.
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