In a new report, Deutsche Bank analyst Karen Short discussed why McDonald’s Corporation MCD 0.48% is still in the early stages of its turnaround story.

McDonald’s stock is up 13 percent in an extremely weak market since its Q3 earnings, and Short believes that the positive numbers the company showed last quarter are a sign that a prolonged period of strong sales has already begun.

Looking Into McDonald’s Future

According to Short, Deutsche Bank expects that McDonald’s will report strong Q4 domestic same-store sales (SSS) growth in the 3.0–4.0 percent range on January 25.

“The combination of the menu refinement and execution efforts from earlier in 2015 along with the introduction of all day breakfast could serve to drive some U.S. SSS upside vs consensus of +2.6 percent,” she explained.

While Short has…

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