Texas Roadhouse price target raised to $130 from $110 at BMO Capital

BMO Capital raised the firm’s price target on Texas Roadhouse to $130 from $110 but keeps a Market Perform rating on the shares. The company’s Q4 earnings beat was driven by stronger comps and restaurant margins, offsetting 5c per share in general liability insurance headwind, the analyst tells investors in a research note. The firm adds however that the commodity guidance reflects only an inflation timing shift, and BMO believes that “much favorability is priced in at current levels”.