McDonald's likely to bounce as fast-food chain overhauls menus, marketing, UBS says

McDonald's shares are likely to bounce as the fast-food chain makes moves to notch stronger sales in the U.S. and abroad despite ongoing macroeconomic pressures, according to UBS. The bank has a buy rating on the burger joint. It maintained a $365 price target on shares, implying 27% upside from Friday's close. "Risk/reward for MCD shares is attractive despite near-term pressures, given catalysts with potential to drive market share gains & strengthen US sales growth, and defensive characteristics that should provide earnings stability in a still volatile environment," UBS analyst Dennis Geiger said Monday in a note to clients. Shares of the Golden Arches have retreated 11% in the past three months, underperforming the overall market, as investors have weighed the potential impacts of the Iran war on McDonald's businesses in the U.S., Europe and other regions. Investors that spoke to UBS are forecasting U.S. and international operated markets same-store sales to come in between roughly 3% and 3.5% for the first quarter versus the 4% and 3.8% expected by analysts polled by FactSet, respectively. MCD 3M mountain McDonald's stock has declined 11% over the past three months. McDonald's is slated to report its first-quarter earnings results on May 7. …