Texas Roadhouse price target raised to $185 from $183 at Truist

Truist raised the firm’s price target on Texas Roadhouse to $185 from $183 and keeps a Buy rating on the shares as part of a broader research note previewing Q2 same-store-sales for Restaurants. The firm cites Truist Card Data pointing broadly to sales downside, with pressure on fast food as the recent value promotions are not helping yet but strength in the “fast casual” segment, the analyst tells investors in a research note. For Texas Roadhouse, Truist Card Data suggests sales of $1.59B, which is 0.5% above consensus, the firm adds, noting that growth peaked in May but momentum remained solid in June and accelerated in the last week.