Goldman sees price wars coming to restaurants and gives 6 stocks that can still thrive

📆 6/13/2024 3:54 PM
📰 CNBC

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Stock Markets,Chipotle Mexican Grill Inc,Starbucks Corp

Chipotle, Starbucks and Sweetgreen are among the investment bank's buy-rated picks.

Consumer spending worries haven't dampened Goldman Sachs' conviction on Americans' willingness to eat out. But only a few restaurant brands that can hold on to their pricing will be able to come out on top, the firm said. Analyst Christine Cho initiated research coverage on the restaurant sector with a "relatively constructive view.

"This underpins company's ability to scale the business in a highly profitable manner without losing grip on the core operations including the quality of food/customer experience." Shares of the burrito chain, which reached an all-time high on Thursday, is up 42% this year. The stock could climb another 18%, based on Goldman's 12-month price target.

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