Texas Roadhouse price target raised to $160 from $135 at Evercore ISI

Evercore ISI analyst David Palmer raised the firm’s price target on Texas Roadhouse to $160 from $135 and keeps an Outperform rating on the shares. Over the last 10-plus years, Texas Roadhouse’s same-store sales growth gap to the industry has averaged 5-6 points, but in Q4 the gap was 8 points and in January the gap was a “remarkable” 12 points, says the analyst, who thinks the expanding level of outperformance may be evidence of the chain’s improving labor productivity combined with “a choosier consumer.”