Barclays (NYSE:BCS) Likes McDonald's (NYSE:MCD) on the Pullback

Citing a strong QSR as a market share play, Barclays (NYSE:BCS) says they recommend buying McDonald's (NYSE:MCD) on a pullback.

Barclays said, "We spent a day on the road with MCD management. The message was clear… the QSR category is a market share play, with the focus on driving traffic. With that said, management is comfortable taking global pricing in 2011 to help mitigate margin pressure. While the shares have eased of late, there were no incremental negative data points from our meetings. Investor's two primary concerns related to the most recent APMEA comp deceleration & potential for a European slowdown. APMEA remains volatile & Europe strong, while closely monitoring the consumer into 2011. McDonald's underlying fundamentals remain strongest in QSR, and we're buyers on the pullback."

Barclays maintains an "Overweight' on McDonald's, which closed Monday at $77.11, down $0.45, or 0.58 percent. They have a price target of $86 on them.