Now is the time to buy McDonald’s, a defensive name to weed out slowing consumer spending, according to Atlantic Equities. Analyst Edward Lewis has upgraded the fast-food giant to overweight, saying in a note to clients Wednesday that the company is “more than just a defensive value game” and is The company is a leader in the global quick-service restaurant industry. As the global consumer declines, companies that operate agile business models and also have a wealth of experience in managing through such challenging periods will emerge, Lewis writes. “McDonald’s is a dominant name in the global QSR category. Lewis cited McDonald’s drive towards digitization among the reasons he liked the stock and highlighted opportunities for the food chain. Fast in its international division Given the possibility of a recession, he also predicts McDonald’s will share and improve margins as it did during the Great Recession thanks to revenue streams from Along with the upgrade, Atlantic Equities raised its price target for McDonald’s to $278 a share, implying a potential 14% gain from Tuesday’s closing price. McDonald’s is down more than 9% this year and is down about 10% from its 52-week high. – CNBC’s Michael Bloom contributed reporting