【出版时间及名称】：2010年美国餐饮行业前景展望
        【作者】：德意志银行
        【文件格式】：pdf
        【页数】：45
        【目录或简介】：

Table of Contents
2010 restaurants outlook .................................................................. 3
Better days ahead? ...................................................................................................................3
Picking our spots – upgrading three stocks; downgrading one ................................................4
Still cautious on casual dining ...................................................................................................7
Macro overview ............................................................................... 10
Macro data paints a compelling picture ..................................................................................10
Why aren’t we seeing improvement in restaurant demand yet? ............................................12
Industry margin analysis................................................................. 16
Industry margins still have room to improve...........................................................................16
Restaurant stock performance ....................................................... 19
Casual dining outperformed in 2009 .......................................................................................19
Ratings changes............................................................................... 20
Chipotle (CMG) – Upgrade to Buy from Hold..........................................................................20
Panera (PNRA) – Upgrade to Buy from Hold...........................................................................23
Ruth’s Hospitality Group (RUTH) – Upgrade to Buy ................................................................25
Burger King (BKC) – Downgrade to Hold from Buy.................................................................27
Price targets and risks for MCD, YUM, DRI and TXRH ...........................................................30
Company models............................................................................. 34