Truist writes that the firm’s proprietary card transaction data supports its bullish view regarding restaurant demand and shows an "encouraging" read for Q1 results. By order of magnitude, the data suggests upside in the quarter for Wingstop (WING), Shake Shack (SHAK), Burger King (QSR), McDonalds (MCD) and Wendy’s (WEN), though it points to a miss for Dave and Busters (PLAY) in its upcoming Q4 earnings at the end of March as its same-store sales momentum appears to have decelerated, the analyst tells investors in a research note.
Published first on TheFly
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