Chipotle Mexican Grill (CMG) PT Lowered to $2,100 at Gordon Haskett
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Deutsche Bank sees these restaurant stocks as a buy
October 19, 2023 1:50 PM EDTIn a note on Thursday, Deutsche Bank analysts initiated coverage of restaurant stocks, revealing the names it sees as a buy.
The note, headed up by analyst Lauren Silberman, said sentiment in the sector appears to be relatively negative, reflecting concerns about the health of the consumer and uncertainty around the impact of GLP-1 drugs.
"From a fundamentals perspective, 1-yr sales trends have been slowing, though underlying 4-yr trends have largely sustained, suggesting the consumer remains relatively resilient despite mixed macro signals. Traffic-driving initiatives, moderating commodity and labor inflation, and efforts to increase productivity could support better-than-expected... More

