McDonald's Corp. (MCD  ) stock slid lower on Thursday after trading higher Wednesday on its third-quarter results. Analysts are raising their price targets and looking ahead to a 2027 focus on value.

The McDonald's Stock Analysts

• TD Cowen analyst Andrew M. Charles maintains a Hold rating on McDonald's and raises the price target from $270 to $285.
• KeyBanc analyst Christopher Carril maintains an Overweight rating and raises the price target from $280 to $307.
• BTIG analyst Peter Saleh maintains a Buy rating and raises the price target from $295 to $305.

Value efforts continue to dominate McDonald's near-term U.S. playbook, Charles said in a new investor note.

The question is how much the value efforts have helped, with Charles saying the last two years have seen spotty traction.

"We view the NEXT playbook as unlikely to deliver tangible U.S. sales benefits through 1H27, while the playbook limits visibility on longer term EPS," Charles said.

The analyst said management's tone on fourth-quarter U.S. same-store sales was encouraging, but noncommittal.

New value options include testing items under $3 through the end of the year and launching a national program in early 2027.

KeyBanc on McDonald's Stock

Third-quarter results and management commentary were positive, Carril said in a new investor note.

"Looking ahead, we expect investor attention will remain on U.S. sales trends," Carril said.

The analyst said updates on value menus, menu innovation and remodels could be other areas to focus on in 2027.

Carril said the fourth quarter is a tough test for McDonald's, going up against strong comparable sales from last year's Grinch promotion.

The analyst is bullish on more value offerings from the company.

Carril said improved realignment with franchisees on more effective value programming could be a "potentially meaningful" tailwind next year and help amplify other areas of strength.

BTIG on McDonald's Stock

Third-quarter financials were mixed, but encouraging, Saleh said in a new investor note.

Saleh highlighted McDonald's new value platform launching in early 2027.

The analyst said third-quarter earnings showed upside and reassured on U.S. trends.

"We have a fairly muted outlook for 4Q26 given tough comparisons and the cautious consumer environment, but still see enough positives as we head into next year including the new value platform," Saleh said.

McDonald's Stock Price Action

McDonald's stock was down 1.5% at $275.97 on Thursday, versus a 52-week trading range of $229.20 to $341.75. Shares rose 6.5% Wednesday after earnings. McDonald's stock is down 9.7% year-to-date after hitting four-year lows in early October.