12:26 PM EDT, 04/05/2024 (MT Newswires) -- McDonald's (MCD) is "well positioned" to drive sales growth through the year, especially in key markets, despite economic challenges and geopolitical impacts, UBS Securities said in a note emailed Friday.

The UBS Evidence Lab '24 QSR survey highlights McDonald's continued popularity and "solid visit intent," with 35% of the respondents citing the quick service restaurant as their favorite.

Despite slight adjustments in international sales estimates, "[McDonald's] remains among the best positioned QSRs, [with] still strong value scores even as pricing has likely impacted perceptions," UBS said.

While the first quarter may face challenges in international sales, the company's strength in key markets like Canada, Germany, and the UK will likely persist, UBS said. "We believe drivers exist to support improving trends, incl. marketing, innovation, loyalty, promos, & the Olympics," UBS added.

UBS has a buy rating on McDonald's and adjusted its price target to $335 from $340.

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