Arcos Dorados perks up after BAML upgrade

|About: Arcos Dorados (ARCO)|By:, SA News Editor

Bank of America Merrill Lynch upgrades Arcos Dorados (NYSE:ARCO) two notches to Buy after having the restaurant stock set at Underperform.

The BAML view on Arcos from BAML is that it will benefit from lower beef prices and see easier compares for periods that included stinging F/X hedges.

The firm lifts its price target to $10 from $4.75.

Source: Bloomberg

ARCO +3.18% premarket to $8.10.