0851 ET - Jersey Mike's has the potential to be more insulated from cyclical trends, Morgan Stanley analysts say. The sandwich chain's demographics skew toward older, wealthier and white consumers, which the analysts see as a favorable exposure that will generate consistent growth. By contrast, Wingstop, whose customer base is more diverse and lower income, has faced significant cyclical pressures. Jersey Mike's has a lot of room to grow and diversify its customer base, the analysts say, while driving steady growth thanks to its more mature stance in the quick-serve restaurant sector.