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Piper Sandler upgrades McDonald’s, says it can manage food and labor inflation better than rivals

A customer receives an order from a drive-thru window at a McDonald’s Corp. restaurant in London, Ontario, Canada, on Wednesday, Jan. 8, 2020 during a test of the “P.L.T.” sandwich — plant, lettuce and tomato featuring Beyond Meat’s pea-based patties.
Bloomberg | Bloomberg | Getty Images

McDonald’s stock will move higher again in 2022 as the recovery for restaurants gains steam, according to investment firm Piper Sandler.

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