Brian Sozzi criticized McDonald’s investor-day view of GLP-1 users as an opportunity, arguing the drugs could curb appetite and cut fast-food demand. The company said 84% of households with GLP-1 users visit its restaurants, citing protein and portion choices.
McDonald’s said it did not need to attract a new customer base, but aimed to remain customers’ first choice as eating habits evolve. It said households with GLP-1 users were increasingly choosing Chicken McNuggets, Filet of Fish and Happy Meals.
Sozzi said GLP-1 medicines can suppress appetite and that users may be trying to live more healthfully; he argued the drugs could weigh on fast-food and packaged-food companies over the next decade. He also said McDonald’s $8.5 billion capital-spending plan had spooked the market and blamed it for a sharp stock drop, while calling the company’s valuation a 10-year low.
