Paul Westra, a senior research analyst at Stifel Financial Corp., said in a research note Tuesday that he’d turned “decidedly bearish” on the restaurant industry, downgrading Stifel’s stance on 11 different restaurant stocks, including Chipotle Mexican Grill, Panera Bread and Cheesecake Factory.
He and his colleagues now “confidently believe” that the weak restaurant consumer spending seen in the second quarter of the year “reflects the start of a U.S. restaurant recession.”
Interesting article posted yesterday form U.S. News and World Report. To read the entire article, go here:
