McDonald's raised to 'buy' at UBS

McDonald's Corp., the world's largest restaurant company, was upgraded to ``buy'' from ``neutral'' by UBS AG, saying the company can deliver against earnings per share expectations in 2009.

``We believe that significant momentum from share gains are sustainable and could possibly even accelerate,'' analyst David Palmer wrote in a note today.

Shares in the restaurant company, which operates more than 31,000 quick-service restaurants worldwide, lost 0.2 percent to $56.13 on Nov. 14.