Business

Jim Cramer says he likes the stock of these three restaurants

CNBC’s Jim Kramer on Thursday offered investors a list of his favorite stocks in the restaurant industry that he thinks will do well once the economy eventually stabilizes.

“Maybe the economy is getting back to normal here, or at least the head of the Fed thinks it could be getting back to normal soon. And under normal circumstances, stock picking is much more about identifying the best players in an industry than just jumping from sector to sector. ,” he said.

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His comments came after Federal Reserve Chairman Jay Powell said on Wednesday that the central bank could cut its aggressive interest rate pace as early as December, sparking a market rally.

Cramer explained that he chose to look into restaurants because investors can easily understand their “completely consumer-facing” business operations.

Here are some of his favorite restaurants:

Growth Stock Pick: Chipotle Mexican Grill

Kramer praised the burrito chain for its mobile ordering technology and brand loyalty, which boosts its pricing.

“What really worries me Chipotle simple: as their spending declines — and this is happening now that the Fed is winning the war on inflation — their incomes could skyrocket,” he said.

Defense Stock Pick: McDonald’s

Selecting a “Special” Situation: Restaurant Brands International

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