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Where have all the investors gone?
March 24, 2008
Are you wondering when investors will be willing to buy your stock again? Here's a hint: You may want to take up knitting while you wait. Longtime restaurant analyst Barry Stouffer of BB&T Capital Markets explains why:
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Restaurants are widely viewed as early cycle stocks because restaurants are one of the first places to benefit as consumer spending stabilizes and rebounds coming out of a recession. We wrote last November that we believed macroeconomic conditions would likely remain challenging for restaurants in 2008. Restaurant stock valuations have come down since and are now in line with long-term averages, but we believe earnings visibility remains exceptionally low because macroeconomic conditions have worsened since last November.... |
Posted by David Farkas on March 24, 2008 | Comments (0)