Cheesecake Factory price target raised to $45 from $40 at Wedbush

Wedbush raised the firm’s price target on Cheesecake Factory to $45 from $40 and keeps an Outperform rating on the shares. The firm notes the company reported Q1 EPS above consensus on better-than-expected same-store sales growth and UL margin. Given the environment, conservative guidance is understandable, and sets a very low bar, adds Wedbush.