William Blair analyst Sharon Zackfia has maintained their bullish stance on CAKE stock, giving a Buy rating on October 16.
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Sharon Zackfia’s rating is based on the resilience demonstrated by The Cheesecake Factory’s core business despite broader industry challenges. Although the company’s third-quarter sales did not meet market expectations and the fourth-quarter outlook was revised downward, the core operations showed positive comparable sales in the third quarter.
Zackfia acknowledges the impact of external factors such as the federal government shutdown, which likely contributed to the slowdown. However, she remains optimistic due to the company’s ability to maintain relatively stable performance amidst these challenges. This resilience, coupled with the expectation of only a slight deceleration in the fourth quarter, supports her Buy rating.
According to TipRanks, Zackfia is a 4-star analyst with an average return of 6.8% and a 45.59% success rate. Zackfia covers the Consumer Cyclical sector, focusing on stocks such as Birkenstock Holding plc, Royal Caribbean, and Cheesecake Factory.
In another report released on October 16, Raymond James also maintained a Buy rating on the stock with a $70.00 price target.