Coronavirus-related concerns and its impact on the restaurant industry can't be determined right now, but investors looking to flee to safer names should pick Domino's Pizza, Inc. (NYSE: DPZ) and McDonald's Corp (NYSE: MCD), according to Morgan Stanley.
The Analyst
John Glass comments on the restaurant sector.
The Thesis
The coronavirus continues to spread across U.S. states which makes it difficult to model the financial impact, Glass wrote in a note. The best available benchmark would be evaluating the level of declines seen in 2008 and 2009 versus 2007. While current uncertainty could result in a more severe near-term impact, it may prove to be shorter in duration.
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