Early Bird Prime for June 2, 2024

McDonald's (NYSE: MCD) stock is in a pickle, not the kind you find on their burgers.

The stock has taken a nosedive, down 12.84% in 2024, while the rest of the market is surging.

Social media is having a field day with viral posts showing high menu prices, like a recent social media post about $18 for a Big Mac. Yes, you read that right -eighteen bucks for a sandwich that used to be the go-to for a cheap meal. 

Customers are flipping out, and low-income consumers are giving McDonald's the cold shoulder.

Even McDonald's President Joe Erlinger had to step in, penning a letter this week to defend the company's pricing. When you have to write a public letter to justify your prices, you know things are getting spicy—and not in the good, McNugget-dipping-sauce kind of way.

But, positive change is coming to the fast food giant. 

McDonald's is rolling out a $5 value meal in June, hoping to lure back the budget-conscious crowd.

Adding a sprinkle of optimism, KeyBanc Capital Markets analyst Eric Gonzalez reiterated an Overweight rating on Friday and slapped a $310 price target on McDonald's stock. That prediction is more than 20% higher than its current price. 

Gonzalez believes U.S. same-store sales trends will improve in 2024 as year-over-year comparisons drop.

Due to these recent positive developments, should you invest in McDonald's now? Well, here’s the answer: