The social media success of McDonald's Grimace-themed birthday meal could be good news for the fast food chain's earnings and share price, according to Truist.
Analyst Jake Bartlett raised his price target on McDonald's, which he rates a buy, to $335 from $327 previously.
A highlight of the meal for customers — and a centerpiece of a social media craze — was a purple-colored, berry-flavored milkshake.
To be sure, Bartlett said Truist data shows multiple other chains talso beating expectations for sales in the latest quarter amid surging demand.
Of eight chains, data shows just two — Wendy's and Chipotle — could see slight misses on sales forecasts, he wrote.
Persons:
McDonald's, Jake Bartlett, —, Barlett, Trisha Paytas, Bartlett, Chipotle, — CNBC's Michael Bloom
Locations:
Monday's