MCD - McDonald's Super-Sized Growth Ambitions: Why the Stock Can Still Go Higher in 2024 and Beyond
2023-12-14 08:15:00 ET
McDonald's (NYSE: MCD) is a solid, dependable stock to own. But investors don't often think of it as much of a growth stock. While it offers a good dividend, this is not the type of investment people come to expect high returns from these days.
But the company has recently released some promising growth targets, which could mean some significant growth for the business. Here's a closer look at those plans, and why the stock could be a great buy not just for next year but for the long term.
On Dec. 6, fast-food restaurant giant McDonald's unveiled some exciting growth targets for its Accelerating the Arches strategy. One of the biggest targets are plans for it to reach 50,000 restaurants worldwide by 2027. That is 8,802 more restaurants than the 41,198 it reported as of the end of September. That's a significant rate of increase given that the company finished 2017 with just 37,241 restaurants -- it has increased its restaurant count by less than 4,000 since then, which is a span of almost six years. It plans to double that rate over a shorter time frame.
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McDonald's Super-Sized Growth Ambitions: Why the Stock Can Still Go Higher in 2024 and Beyond