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McDonald’s shares hit new high over self-order kiosks

June 22, 2017

McDonald's shares hit an all-time high Tuesday as Wall Street expects new digital ordering kiosks that will replace cashiers in 2,500 restaurants will boost sales, according to CNBC.

Cowen & Co., an investment banking firm, raised its rating on McDonald's shares to “outperform” from “market perform” due to the technology upgrades.

The technology upgrades are part of McDonald's "Experience of the Future," including ordering kiosks in 2,500 restaurants by the end of the year and table delivery.

"MCD is cultivating a digital platform through mobile ordering and Experience of the Future, an in-store technological overhaul most conspicuous through kiosk ordering and table delivery," Cowen’s Andrew Charles stated in a note to clients. "Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales]."