McDonald's hits all-time high as Wall Street cheers replacement of cashiers with kiosks

[Old Warrior in Exile]

McDonald's hits all-time high as Wall Street cheers replacement of cashiers with kiosks

Tae Kim| @firstadopter
11 Mins Ago

McDonald's hits all-time high as Wall Street cheers replacement of cashiers with kiosks   McDonald's hits all-time high as Wall Street cheers replacement of cashiers with kiosks 
Tuesday, 20 Jun 2017 | 1:45 PM ET | 00:39
McDonald's shares hit an all-time high on Tuesday as Wall Street expects sales to increase from new digital ordering kiosks that will replace cashiers in 2,500 restaurants.

Cowen raised its rating on McDonald's shares to outperform from market perform because of the technology upgrades, which are slated for the fast-food chain's restaurants this year.

McDonald's shares rallied 26 percent this year through Monday compared to the S&P 500's 10 percent return.

Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald's calls "Experience of the Future," includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery.

"MCD is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul most conspicuous through kiosk ordering and table delivery," Charles wrote in a note to clients Tuesday. "Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales]."

He raised his 2018 U.S. same store sales growth estimate for the fast-food chain to 3 percent from 2 percent.

The analyst raised his price target for McDonald's to $180 from $142, representing 17.5 percent upside from Monday's close. He also raised his 2018 earnings-per-share forecast to $6.87 from $6.71 versus the Wall Street consensus of $6.83.

http://www.cnbc.com/2017/06/20/mcdonalds-hits-all-time-high-as-wall-street-cheers-replacement-of-cashiers-with-kiosks.html

Would you like fries with that?

[roamer_1]

Would you like fries with that?

I ain't had MickeyD's since mid winter... They tore down the one on the west side here. I expect what they are building there now will be this automated thing...

[Bigun]

They would have gone out of business long ago if they were depending on any business from me.