BTIG analyst Peter Saleh maintained a Buy rating on Texas Roadhouse today and set a price target of $200.00.
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Peter Saleh has given his Buy rating due to a combination of factors that highlight Texas Roadhouse’s strong performance and strategic resilience. The company has demonstrated impressive same-store sales growth, with traffic increases that defy industry trends, suggesting a robust consumer appeal and effective operational strategies. Despite facing challenges from elevated beef inflation, which has pressured margins and earnings, Texas Roadhouse’s consistent pricing strategy has continued to attract customers, reinforcing its value proposition.
Moreover, the company’s ability to maintain sales momentum even in a challenging economic environment underscores its market strength. Saleh’s confidence is further supported by a valuation that anticipates future earnings growth, with a price target of $200 based on a premium P/E multiple. This outlook reflects the expectation that Texas Roadhouse will continue to perform well, driven by its proven strategies and consumer loyalty.
Saleh covers the Consumer Cyclical sector, focusing on stocks such as Chipotle, Texas Roadhouse, and Starbucks. According to TipRanks, Saleh has an average return of 9.7% and a 59.12% success rate on recommended stocks.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $228.00 price target.