Raymond James downgraded Cheesecake Factory (CAKE) to Market Perform from Outperform. The stock is fairly valued after achieving the firm’s price target the analyst tells investors in a research note. Further multiple expansion from here could require sustained traffic improvement at Cheescake Factory and a return to positive comps at North Italia, the firm says.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAKE:
- Cheesecake Factory price target raised to $50 from $49 at Morgan Stanley
- Cheesecake Factory price target raised to $65 from $56 at BofA
- Cheesecake Factory price target raised to $51 from $48 at Barclays
- Freedom Capital starts Cheesecake Factory at Hold on macro headwinds
- Cheesecake Factory initiated with a Hold at Freedom Capital