Texas Roadhouse price target raised to $109 from $104 at RBC Capital

RBC Capital analyst Christopher Carril raised the firm’s price target on Texas Roadhouse to $109 from $104 and keeps a Sector Perform rating on the shares as part of a broader research note on Casual Dining. Industry estimated same-restaurant sales accelerated to above 5% in June, driving casual dining group valuations higher, the analyst tells investors in a research note. Texas Roadhouse is a rarity in the casual-dining industry, consistently posting positive traffic and driving near best-in-class unit growth, which should continue to support its valuation premium versus peers, the firm adds.