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Fly News Breaks for December 10, 2019
DNKN, NDLS, QSR, TACO
Dec 10, 2019 | 08:47 EDT
Jefferies analyst Andy Barish said the firm's recent consumer survey and his multiyear analysis leads him to estimate that "better-positioned" quick-service restaurant operators, or QSRs, could see a 2%-3% contribution to same-store sales growth from plant-based "alt meats." He views Restaurant Brands' (QSR) Burger King, Dunkin' Brands (DNKN) and Del Taco (TACO) as best positioned among QSRs in terms of alt meats, but also thinks the broader Better For You trend and shift toward plant/veggie-forward eating is a driver for companies such as Noodles & Company (NDLS). He doesn't expect plant-based proteins to be as material an industry "disrupter" as digital and delivery, but does thinks these products can be material same-store sales drivers, but one that is largely already baked into the stocks, Barish concluded. He maintains Buy ratings on Noodles and Del Taco and Hold ratings on Restaurant Brands and Dunkin'.
News For QSR;DNKN;TACO;NDLS From the Last 2 Days
NDLS
Feb 14, 2020 | 09:26 EST
Maxim analyst Stephen Anderson initiated coverage of Noodles & Company with a Buy rating and $12 price target, saying its on-trend menu evolution around new lower-carb pasta along with its revamped rewards program and return to unit growth are leading its turnaround. The analyst is also positive on the company's restructuring activities such as refranchising, a new kitchen operating model, and its debt paydown all boosting its margins.