Texas Roadhouse price target raised to $205 from $189 at BofA

BofA analyst Sara Senatore raised the firm’s price target on Texas Roadhouse to $205 from $189 and keeps a Buy rating on the shares. Ahead of earnings from the group, the firm fine tuned estimates for 19 restaurant companies across its coverage and also adjusted selected price targets to reflect estimate changes and lower market multiples. Across three different measures of restaurant industry performance, the firm sees evidence that June restaurant demand variously slowed moderately, was stable and improved in real terms, notes the analyst, who looks for the coming earnings reports to offer clarity.