Cheesecake Factory price target lowered to $33 from $39 at Citi

Citi lowered the firm’s price target on Cheesecake Factory to $33 from $39 and keeps a Neutral rating on the shares ahead of its Q3 results. The company is likely to see a miss on top and bottom lines amid soft Cheesecake Factory comps, the analyst tells investors in a research note. Cheesecake Factory shares have pulled back in line with tge company’s peers since reporting Q2 earnings, suggesting buy-side comps and EPS expectations have also waned, but a miss and still-sluggish industry traffic in Q3 likely places full-year guidance at risk, the firm added.