Texas Roadhouse price target raised to $160 from $144 at Baird

Baird analyst David Tarantino raised the firm’s price target on Texas Roadhouse to $160 from $144 and keeps a Neutral rating on the shares. The firm came away from the Q4 report with increased confidence in the near-term earnings outlook, as the company’s ongoing same-store traffic momentum and planned pricing actions suggest opportunity for some margin recovery in 2024E.