Texas Roadhouse price target raised to $108 from $98 at Baird

Baird analyst David Tarantino raised the firm’s price target on Texas Roadhouse to $108 from $98 and keeps a Neutral rating on the shares. The analyst said Q4 comps and EPS missed estimates, but the company indicated a much stronger-than-anticipated start to Q1 that is prompting us to increase our revenue/EPS estimates for 2023, although our EPS estimate conservatively remains under consensus.