LOS ANGELES—McDonald's Corp. likely will raise the price of its Dollar Menu item, the double cheeseburger, and replace it with a new double hamburger with one slice of cheese, analysts said.
"The double cheeseburger will likely rise from 99 cents to $1.19, while a new product, called 'McDouble,' will be a double hamburger with one slice of cheese," J.P. Morgan analyst John Ivankoe said in a client note on Friday.
McDonald's executives said on the company's Oct. 22 earnings conference call that they were testing products and that a decision about Dollar Menu changes would be made "soon."
