Cheesecake Factory downgraded to Neutral from Outperform at Wedbush

Wedbush analyst Nick Setyan downgraded Cheesecake Factory to Neutral from Outperform with a price target of $35, down from $37. A December acceleration is essential for Q4 SSS growth to hurdle consensus, but even if one occurs, it will not be a good indicator of underlying fundamentals, Setyan tells investors in a research note. Topline expectations could prove to be optimistic, the analyst adds.