Snack wrap return gives McDonald’s a huge boost on Wall Street

The snack wrap was originally unveiled almost 20 years ago.

Transcript

00:00McDonald's snack wraps are back and that's got Wall Street hungry for the stock.

00:05Goldman Sachs just upgraded the fast food giant to a buy,

00:09saying new menu items and value meals could help drive momentum among price-conscious customers.

00:15McDonald's has lagged the broader market so far this year,

00:17but Goldman sees a comeback on the menu with potential stock gains of 15% over the next 12 months.

00:24The analysts did warn that value wars in the fast food world could squeeze margins

00:29in the short term, but says it's well-positioned to outpace the competition.

00:34Goldman's price target, $345.

00:37As for the snack wrap, it was originally unveiled back in 2006

00:41and was a fan favorite until it was discontinued in 2016,

00:46but now it's back and available in two flavors, ranch and spicy.

00:50That'll do it for your daily briefing from the New York Stock Exchange.

00:52I'm Caroline Woods with The Street.

00:59I'm Caroline Woods with The Street.

01:00I'm Caroline Woods with The Street.

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01:19I'm Caroline Woods with The Street.