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McDonalds rises to record as it introduces the McPlant burger….

McDonald’s (NYSE: MCD) share price rose to new highs on news McPlant burger

McDonald’s (MCD) share price climbed to new record highs as it introduces a new vegan burger, the McPlant, in the US this week.

In recent years, there has been an ongoing consumer shift to vegan products. One reason is that consumers are becoming more health conscious. Greggs (LON: GRG) launched its vegan sausage roll in 2019 and immediately led to a double-digit rise in sales that year.

McDonald’s competitor, Burger King, launched its Impossible Whopper a couple of years ago made from soy. To keep up with the consumer trend and competition, McDonald’s launches the plant-based burger which is produced by BeyondMeat (BYND), a company that specialises in plant-based meat.

Will the new McPlant burger boost McDonald’s earnings? The market is already thinking that it will. McDonald’s share price kept trending higher as investors anticipate that it will attract a new category of customers.

The consumer giant’s share price closed at $250.40 on Wednesday session.

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McDonald’s (NYSE: MCD) share price analysis (4/11/21)

McDonald’s (MCD) share price closed at new all-time highs earlier this week.

This is a clear indication that investors are still holding and possibly accumulating the stock. Trendwise, the consumer giant remains long-term bullish. If prices manage to overcome the $250 level, the next upside target is pencilled at $260-265.

On the downside, the fact the McDonald’s has had any meaningful correction since March 2021 means that a consolidation may happen soon, especially if the market goes ‘risk off’ on the new Fed tapering schedule. However any consolidation is likely to be viewed as as a buying opportunity.

New buyers watch to buy to the stock on a setback.

McDonald’s (NYSE: MCD) share forecast (4/11/21)

McDonald has weathered the pandemic really well. While its stores were closed in the early stages of the pandemic, by the second half of 2020, most gradually opened. Sales rebounded.

Moreover, McDonald’s has benefitting enormously as people kept buying ‘comfort food’ during the pandemic.  This led to strong earnings outlook.

Out of the 40-membered analyst panel tracked by the Financial Times, 31 recommended the stock as ‘Buy’ or ‘Outperform’. This is a strong bullish outlook for the stock. Some predict the stock to go as high as $300.

Not to forget is that McDonald’s is a strong dividend payer. Its 2% yield is valued by many investors.

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If you are based in the UK you need a stock broker that will allow you to invest or trade in international shares like:

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