Stephens resumed coverage of Texas Roadhouse with an Equal Weight rating and $150 price target. The company operates one of the best positioned casual dining concepts, evidenced by the fact that despite a challenging consumer backdrop, Texas Roadhouse continues to deliver healthy traffic growth, the analyst tells investors in a research note. The company also still has ample runway for unit growth, and the firm sees growth potential for its other emerging growth concepts like Bubba’s and Jaggers, but the stock is trading at a “premium valuation”, Stephens added.
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