McDonald’s stock recently rose after the burger giant agreed to keep the $5 meal deal going

With fewer customers visiting the Golden Arches as diners cut back on restaurant spending, McDonald’s is now extending its $5 meal deal for the fall and December in many U.S. markets.

It’s the second time the fast-food chain has extended the deal, which began this summer, and another sign that the burger chain is looking to win back lower-income customers amid perceptions that it is too expensive.

According to Investing.com, Citi on Friday raised its price target on McDonald’s Corporation (NYSE: MCD ) stock from $275 to $301, anticipating positive quarterly results.

Shares of McDonald’s were up about 1.44% in overnight trading on Friday.

What does the meal consist of?

While $5 won’t buy you much these days, a fiver at McDonald’s will get you a four-pack of Nuggets, a McChicken, or a McDouble sandwich; small fries, and a small soft drink. The discount comes after McDonald’s, like many chains, raised prices to combat rising food prices and inflation.

The price hike has led many price-conscious customers to question whether fast food is still worth the cost. McDonald’s said earlier this year that the price of a Big Mac had increased by 21% since 2019, but the price increase shared on social media was more dramatic.

Like Starbucks and other chains, McDonald’s has been offering discounts to customers in the hope that they will return. The company said it expects more deals in the coming weeks and months.