Thu Jul 23 08:59:00 -0400 2009

Bloomberg (New York)

- McDonald’s Corp., the world’s largest restaurant company, dropped the most in nine months in New York trading after second-quarter revenue declined more than analysts projected.

“We’re seeing consumers trade out of even the quick service restaurants” to prepare more food at home, said Tom Forte, an analyst with Telsey Advisory Group in New York. He has a price target of $67 to $69 on the stock. “It’s becoming a battle for market share, and McDonald’s can win, but we’re concerned about the sales trends.”

To view the full article, download the PDF here: Bloomberg, July 23, 2009