Financial Translation & Communication Solutions

McDonald's preliminary 1Q07 EPS was $0.62 versus consensus' $0.57 and our $0.55.

We are raising our 1Q07, and 2007-2009 estimates to $0.62, $2.68, $2.90 and $3.13, respectively to accommodate McDonald's strong beat. Our new 12-month, P/E and DCF-based price target is $52.

麦当劳2007年第一财季每股收益初步数据为62美分，市场预期为57美分，我们的预期为55美分。

我们将麦当劳2007年第一财季和2007至2009财年的每股收益预期分别上调至62美分、2.68美元、2.9美元和3.13美元。以市盈率法和现金流量折现法估算的12个月目标股价看52美元。