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Starbucks Corp

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
MXN 2,832.88TdsskKpgmnjr

Restaurants' Value Menu Looks Unappetizing as Market Sentiment Outruns Fundamentals

We expect sluggish sales growth to represent the key issue for the restaurant industry in 2023, following a year of investor concern regarding inflated input costs and margin compression. Though we see modest upside in wide-moat Domino's and view wide-moat Chipotle shares as fairly valued, the industry trades at a 5% market-cap weighted premium to our fair value estimates, suggesting that current entry prices are less than salient.

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