There are fast food companies insulated from the weakening consumer: Guggenheim's Greg Francfort

Core Insights - The lower-income consumer segment has been under pressure for the past 18 to 24 months, impacting fast food chains like Chipotle, where 30% of its business comes from households earning between $45,000 and $100,000 [2][4] - Despite challenges, certain fast food chains like Taco Bell, McDonald's, and Domino's have shown positive comparable sales growth, indicating resilience in the sector [4][5] - Casual dining has outperformed fast casual dining, contrary to expectations in a softer restaurant environment, particularly benefiting higher-income consumers [6] Company-Specific Insights - Starbucks faces potential labor shortages during the holiday season, but the current labor market is the loosest it has been in 10 years, which may ease hiring challenges [8][9] - Texas Roadhouse is highlighted as a top investment pick, trading at approximately $160, with strong revenue growth and a favorable earnings multiple of less than 18 times, despite concerns about inflationary pressures on beef [10][11]