Why Arcos Dorados Stock Jumped Today
Arcos Dorados (NYSE: ARCO) shareholders trounced the market on Wednesday morning. The fast-food restaurant operator's stock jumped 11% before settling to an 8% gain by 11:30 am, EDT, compared to a slight decline in the S&P 500.
The rally was sparked by a Wall Street pro who turned more confident about the McDonald's (NYSE: MCD) franchisee's business.
Arcos Dorados stock was hit with an upgrade from an analyst at Credit Suisse, who thinks the stock could surge to $9.50 per share over the short term as the Latin American fast-food industry moves out of the pandemic.
Source Fool.com
