A McDonald’s customer with french fries at the fast-food chain McDonald’s in New York, October 22, 2019.
Shannon Stapleton | Reuters
Here are the biggest calls on Wall Street on Monday:
Piper Jaffray downgraded McDonald’s to ‘neutral’ from ‘overweight’
Piper downgraded the stock after the company’s CEO change and said that these kinds of changes are “disruptive.”
“It is by now fairly common knowledge that McDonald‘s has made a change at the CEO level. Albeit unfortunate, we believe the company acted in a timely and effective manner for the reason if only company policy was violated. While fundamentals are solid (nowhere more apparent than last week’s earnings results), changes of this…