Some Restaurant Stocks Are Bouncing Back, Says Dr. Joe Duarte
Duarte added: The restaurant sector may be on the rebound. To be sure lower gasoline prices and a drive toward bargain pricing in some chains has helped. But the latter does not seem to be the story at Panera, which seems to have captured the market between Starbucks and McDonald's.
On a recent trip to Florida we passed by one Panera store twice in a five-day period, once for breakfast and once for lunch. The store was packed, with lines of customers waiting both times. The crowd was diverse, which is important as it indicates broad demographic appeal. There were lots of laptop loungers, but also the work out-to-lunch crowd and a fair number of tourists and skateboarders.
In other words, Panera's broad appeal seems to be registering with investors, and money is flowing into the stock.
Duarte's conclusion: If oil prices start to climb, it will be interesting to watch what Panera does. Otherwise, the stock needs to stay above 50 or so, and maybe catch its breath, as it has moved nicely from 36 in a short period of time.
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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).
Duarte's IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.
He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.
One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron's, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.
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