McDonald's, Walmart added to US conviction buy list at Goldman

McDonald's, Walmart added to US conviction buy list at Goldman

Goldman Sachs has recently updated its US conviction buy list, adding two prominent companies: McDonald's (NYSE: MCD) and Walmart (NYSE: WMT). The decision reflects the analysts' bullish outlook on both companies' growth prospects and market positioning.

According to the latest Goldman Sachs report [1], McDonald's was upgraded to a "Buy" rating with a price target of $300.00, up from the previous target of $285.00. The analysts cited strong global demand for fast food and the company's successful implementation of digital ordering and delivery services. They also highlighted McDonald's robust financial performance, with consistent revenue growth and expanding profit margins.

Walmart, on the other hand, was also upgraded to a "Buy" rating with a price target of $150.00, up from $140.00. The analysts praised Walmart's ability to adapt to changing consumer preferences, particularly in the e-commerce space. They noted the company's strong performance in online sales, driven by its acquisition of Jet.com and the growth of its e-commerce platform. Additionally, Walmart's strategic investments in logistics and supply chain infrastructure were highlighted as key drivers for future growth.

Both McDonald's and Walmart have shown resilience during the ongoing economic uncertainty, with their strong brand recognition and diverse revenue streams providing a buffer against market volatility. The analysts at Goldman Sachs expect both companies to continue their growth trajectory, driven by their respective strengths in the fast food and retail sectors.

References:

[1] https://www.marketbeat.com/ratings/by-issuer/goldman-sachs-group-stock-recommendations/