McDonald’s saw its shares drop in mid-day trading Thursday after the fast-food chain reported global sales that missed estimates, but “Fast Money” trader Pete Najarian isn’t selling — instead, he sees an opportunity.
“This is an absolute buy,” Najarian said.
McDonald’s reported a smaller-than-expected rise in February sales at established restaurants around the world, thanks to weakness in Europe, Asia/Pacific, the Middle East and Africa. Sales at restaurants open at least 13 months rose 7.5 percent globally. Analysts were expecting a gain of 7.7 percent.
However, Najarian pointed out that Europe had the “coldest winter in 50 years” and Japan also had heavy snow.
“What if by chance the weather is a little bit better in Europe, and we’re already getting into the spring here,” he said. “To me, this is the best opportunity to finally get into McDonald’s."
Trader Stephanie Link agrees.
“It’s such a great, quality company,” she said. “On the weakness, it’s pretty attractive.”
She said the growth is overseas, but pointed out the company is doing better in the United States. Same-restaurant sales in the U.S. jumped 11.1 percent, better than the approximate 8 percent gain analysts expected.Page 1 of 4 | Next Page