NEW YORK (TheStreet) -- Restaurant sales should see a boost in 2015 due to lower oil prices, according to a recent report from Morgan Stanley (MS) - Get Report .

"We expect lower gas prices to boost restaurant sales in 4Q14 and throughout 2015," the Dec. 22 report said.

Morgan Stanley research analysts took a deep dive across the firm's entire North America coverage universe to assess how "a sustained period of lower oil prices" would affect various sectors and stocks.

The Dec. 22 report "highlights stocks for which the effect would be most beneficial, or most challenging," it said. The analysts identified more than 30 industries in which "an extended period of low energy prices would have a material effect," and more than 120 stocks where the effects would be either "especially favorable or unfavorable."

Morgan Stanley estimated consumers would save approximately $75 billion in 2015 if gas prices stayed at current levels. "This would represent a 0.6% increase in disposable income and could boost restaurant sales by 1%," the report said.

Given that gas represents a high proportion of disposable income for low-income consumers, "we expect lower-income consumers to benefit the most, in turn benefiting casual dining chains and QSR [quick-service restaurants] exposed to that consumer," the Dec. 22 report said.

Though not mentioned in the report, burger chain Shake Shack'sIPO plans are coming at an opportune time given these trends. Restaurants are one such industry that stands to gain the most from oil's record lows, according to Morgan Stanley (MS) - Get Report .

Click through to see which restaurant stocks Morgan Stanley likes best based on lower oil.

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Texas Roadhouse (TXRH) - Get Report

Position: Likely beneficiary

Year-to-date return: 21%

Morgan Stanley said: TXRH is among the most exposed among the casual dining companies we cover to lower income consumers. Its all-dinner exposure is also more discretionary.

Brinker (EAT) - Get Report

Position: Likely beneficiary

Year-to-date return: 27%

Morgan Stanley said: Brinker's Chili's division also has outsized exposure to lower end consumers.

Darden (DRI) - Get Report

Position: Likely beneficiary

Year-to-date return: 8.2%

Morgan Stanley said: Olive Garden (~70% of Darden's revenue) is exposure to lower-income consumers. Also, with OG being 100% company owned, any sales boost has an outsized impact on profits.

Sonic Drive-In (SONC)

Position: Likely beneficiary

Year-to-date return: 34%

Morgan Stanley said: Of the QSRs we expect SONC to benefit the most from lower gas prices. Its target demographic is slightly higher income than other QSRs we cover, but its beverage/frozen business (~40% of sales) is highly discretionary. It's also obviously car-focused.


Jack in the Box (JACK) - Get Report

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Position: Likely beneficiary

Year-to-date return: 60%

Morgan Stanley said: The JIB concept is highly exposed to California (56% company-owned stores and 42% system wide) where the average consumer drives more, and thus saves more when gas prices drop. JIB's menu is also more discretionary than national concepts like McDonalds and Burger King.

- Written by Laurie Kulikowski in New York.

Follow @LKulikowski