Shares of McDonald’s , which have risen for most of this year, should keep rising, according to an analyst who is the fast-food giant’s biggest Wall Street bull.

McDonald’s stock (ticker: MCD) was recently up 1% to $219.43 as MKM Partners analyst Brett Levy started coverage of the company with a Buy rating and a $250 price target—the highest on Wall Street and above FactSet’s $233 average.

McDonald’s “valuations continue to test new highs,” Levy wrote, “but the company has continued to produce strong and consistent results, outpacing much of the other highly franchised global concepts.”

The rating came as MKM started coverage

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