Citi analyst Jon Tower upgraded Cheesecake Factory to Buy from Neutral with a price target of $47, up from $38. The analyst cites an “increasingly de-risked” unit growth outlook, a stabilized labor environment , and the stock’s valuation that does not fairly reflect the company’s traffic outperformance versus peers for the upgrade. High frequency data supports Cheesecake’s continuing traffic outperformance and share gains, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAKE:
- Cheesecake Factory price target raised to $37 from $32 at Baird
- Cheesecake Factory price target lowered to $32 from $33 at Barclays
- Cheesecake Factory upgraded to Outperform from Market Perform at Raymond James
- Cheesecake Factory affirms FY24 revenue view of about $3.6B, consensus $3.62B
- Cheesecake Factory Announces Dividend, Updates Investors