While artificial intelligence will likely continue to capture market attention in 2026, some analysts see opportunities in large food stocks.
After a two-year period of “normalization” during which independent mom-and-pop stores regained some ground, the fast-casual leader is “best positioned to re-accelerate” as it pivots toward aggressive consolidation, Bank of America analyst Sara Senatore wrote in a recent note.
“Chains are now doubling down on efforts to drive sales [through] value, menu innovation, [and] Marketing-wise, we expect large-scale restaurant concepts to return to share-winner status,” the senators wrote.
A rotation into non-tech stocks is already underway, with analysts noting that three major grocery chains — Chipotle (CMG), Wingstop (WING) and Cava (CAVA) — could be the top contenders for a comeback in 2026.
While consumer spending at restaurants has increased, that growth has been driven by higher menu prices rather than transaction volume, according to a 2025 Bank of America report. Additionally, while higher-income consumers have increased spending, lower-income households are traveling less or less frequently to cope with rising costs.
Read more: What is a “K-shaped” economy? What creates this divide?
Still, Chipotle remains a major contender in this recovery, even though it’s had a rough 2025, with shares down about 38% year-to-date.
Despite recent volatility, Bernstein analyst Danilo Gargiulo remains confident in the chain’s 2026 outlook, citing a renewed focus on chicken to offset beef inflation and accelerated equipment rollout that could lead to efficiency gains reaching the bottom line a year earlier.
However, execution remains key. “Most initiatives will be tested in 2026,” Gargiulo warned. Abandoning the “sewage bowl” of other menu items could be another hurdle if younger groups don’t like it.
Wingstop, meanwhile, is eyeing a comeback in 2026, even as macro pressures have caused its shares to fall about 16% this year.
Gargiulo noted that while “consumer weakness” will lead to lower same-store sales in late 2025, the brand’s launch of “smart kitchens” – designed to reduce order wait times from 22 minutes to 10 minutes – could be a game-changer. By combining speed with a new marketing push, Wingstop believes it can reach a delivery-first audience that has become fatigued by rising costs.
Finally, kava can serve as another high-powered but high-risk alternative. Shares of the Mediterranean chain have fallen nearly 48% this year, proving that the company is not immune to the macro pressures plaguing the industry.
