TD Cowen Upgrades AMETEK to Hold, Raises Target to $180

TD Cowen has maintained a cautious stance on McDonald's, reiterating a Hold rating despite the company's intensified focus on value-driven promotions, which management expects to have limited positive impact on U.S. same store sales through 2025. The firm highlights that the significant price reductions, such as September's $8 Big Mac combo, have brought McDonald's value perception in line with competitors but may not yield immediate sales growth. Meanwhile, TD Cowen upgraded AMETEK from Sell to Hold, raising its price target to $180, citing that previous negative catalysts have subsided and the recent acquisition of Faro Technologies offers cost-saving opportunities. AMETEK's recent earnings surpassed expectations, with solid revenue growth and optimistic guidance for Q3 and full-year 2025. Additionally, TD Cowen reaffirmed a Buy rating on Medtronic, optimistic about the potential expansion of renal denervation therapy coverage by Medicare, which could unlock significant growth given the large population of uncontrolled hypertension patients. These analyst updates reflect a nuanced view across sectors, balancing short-term headwinds with strategic opportunities for growth.