RBC Capital analyst Christopher Carril raised the firm’s price target on Texas Roadhouse to $165 from $145 and keeps a Sector Perform rating on the shares. The company’s Q1 earnings beat was driven by higher comps and lower-than-expected inflation driving restaurant profitability to 17.4% in the quarter, the analyst tells investors in a research note. Quarter-to-date comps decelerated to 9.3% from the 10.2% in March, but they remain well ahead of the Street’s 6.8%, and the company isn’t seeing any evidence of a slowing consumer, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TXRH:
- Texas Roadhouse management to meet virtually with Loop Capital
- Texas Roadhouse price target raised to $178 from $162 at Citi
- Texas Roadhouse price target raised to $136 from $120 at Jefferies
- Texas Roadhouse price target raised to $145 from $135 at Morgan Stanley
- Texas Roadhouse resumed with an Equal Weight at Stephens