12:55 PM EDT, 10/30/2024 (MT Newswires) -- McDonald's (MCD) faces US margin pressure and lower same-store sales growth for its International Operated Markets segment, BofA Securities said Wednesday in a report about the restaurant industry.

The firm cut its earnings per share projections for McDonald's to $2.95 from $3.01 for Q4 and to $12.60 from $12.73 for 2025.

"We reiterate our neutral rating as we continue to see limited opportunities for significant positive EPS revisions in the franchise model, particularly as topline growth remains sluggish," said BofA, which boosted its price objective on the company to $324 from $321.

For Chipotle Mexican Grill ( CMG ) , BofA maintained its Q4 EPS estimate of $0.24 and lifted its 2025 estimate to $1.38 from $1.34. The firm kept its $71 price target and buy rating on the company.

For Cheesecake Factory ( CAKE ) , BofA maintained its Q4 EPS forecast at $0.91. The firm increased its 2024 EPS estimate to $3.31 from $3.21 to reflect the Q3 beat compared with BofA's projection. The firm raised its price objective on the company to $49 from $47, with a neutral rating.

Shares of McDonald's fell 0.6%, Chipotle Mexican Grill ( CMG ) slid 7.3% while Cheesecake Factory ( CAKE ) advanced nearly 11% in recent trading.

Price: 293.26, Change: -1.74, Percent Change: -0.59