Shares of McDonald’s Corp (NYSE:MCD) remained under pressure in early trading on Thursday, after the company Thursday reported its first-quarter results.

• McDonald’s stock is testing key support levels. What’s pressuring MCD?

Here are the key analyst insights:

• TD Cowen analyst Andrew Charles reiterated a Hold rating, while cutting the price target from $330 to $300.
• KeyBanc Capital Markets analyst Christopher Carril maintained an Overweight rating, while trimming the price target from $345 to $330.
• BTIG analyst Peter Saleh reaffirmed a Buy rating and price target of $370.

Check out other analyst stock ratings.

TD Cowen: While McDonald’s efforts improved value perceptions, it failed to drive "enduring" same-store sales growth, Charles said in a note. Management warned of the industry softening in April, he added.

The company's conference call indicated a focus on beverages and value "to protect traffic in an incrementally more challenging industry backdrop," with lower consumer confidence and higher gas prices, the analyst stated. He further noted that this commentary came against strong results for Restaurant Brands International Inc's (NYSE:QSR) Burger King and Yum! Brands Inc's (NYSE:YUM) Taco Bell.

KeyBanc Capital Markets: There were "no major surprises" from McDonald’s results, with revenue growth coming in slightly below Street expectations, Carril said. While the softness in April is likely transitory due to tough year-on-year comps, macro uncertainty is a concern, he added.

Management's second-quarter guidance suggests a "meaningful deceleration" from the first quarter but implies improvement post-April, the analyst stated. "MCD has a number of top-line drivers in place with aim to return sales to positive territory," he further wrote.

BTIG: McDonald’s reported 3.8% global same-store sales, in line with consensus, Saleh said. The company's U.S. comps increased 3.9%, despite poor weather in January and February, while international comps also grew 3.9%, driven by strong performances in the U.K., Germany and Australia, he added.

The new Under $3 Menu is likely to resonate with consumers, while the new McCafe beverage platform could generate 3%-5% growth in comps, the analyst stated. "So we acknowledge the 2Q revision (our estimate moves to 1.8% from 3.0%), but still think there is enough in the balance of the year to offset this," he further wrote.

MCD Price Action: Shares of McDonald’s had declined by 0.94% to $280.99 at the time of publication on Friday.

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