Citi analyst Jon Tower downgraded Cheesecake Factory to Neutral from Buy with a $39 price target. Shares are near his price target after a bullish run in the stock, noted Tower, who expects Cheesecake Factory to post solid results for Q4 and Q1-to-date, but has become less confident in the company’s ability to grow the store base while expanding and sustaining margins.
Published first on TheFly
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