Goldman Sachs: Restaurant Stocks Are a Bad Buy

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It isn’t just Denny’s that’s in trouble: According to the Associated Press, Goldman analyst Michael Kelter issued a note to clients regarding restaurant stocks, “saying shares of the companies are overvalued in light of uncertain demand.” In fact, a Goldman survey of 2,000 people found “a spike in the number of people who classified restaurants as ‘less affordable.’” But if there are investors out there who are still determined to buy up a chunk of a huge restaurant chain, Kelter says Chipotle and Tim Hortons are okay, provided you want to hold on to the stock for a while. [AP via Forbes]