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May 14, 2008
Restaurant analysts Jeff Bernstein of Lehman Brothers and Steve West of Stifel Nicolaus popped up on CNBC today, offering their take on restaurant stocks. They remain pessimistic on casual-dining, which shouldn't surprise anyone.
Bernstein, however, suggested there was a ray of hope given the sector's trough multiples, which may signal an "early uptick." The name he likes is Orlando-based Darden Restaurants. "It has the best fundamentals and lowest multiples," he added.
Otherwise, it was investing as usual, with Burger King and McDonald's as good bets. The analysts cite their large franchisee base, global reach and surging market share gains as reasons to own the stocks.
Earlier in May, UBS restaurant analyst David Palmer also showed up on CNBC discussing the same issues and sharing much the same opinion. Asked about rising ingredient costs, he predicted beef and chicken prices will rise in '09.
Analysts: Stick with QSR
May 14, 2008
Restaurant analysts Jeff Bernstein of Lehman Brothers and Steve West of Stifel Nicolaus popped up on CNBC today, offering their take on restaurant stocks. They remain pessimistic on casual-dining, which shouldn't surprise anyone.
Bernstein, however, suggested there was a ray of hope given the sector's trough multiples, which may signal an "early uptick." The name he likes is Orlando-based Darden Restaurants. "It has the best fundamentals and lowest multiples," he added.
Otherwise, it was investing as usual, with Burger King and McDonald's as good bets. The analysts cite their large franchisee base, global reach and surging market share gains as reasons to own the stocks.
Earlier in May, UBS restaurant analyst David Palmer also showed up on CNBC discussing the same issues and sharing much the same opinion. Asked about rising ingredient costs, he predicted beef and chicken prices will rise in '09.
Posted by David Farkas on May 14, 2008 | Comments (0)
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