UBS raised the firm’s price target on Cheesecake Factory (CAKE) to $50 from $45 and keeps a Sell rating on the shares. While UBS anticipates solid Cheesecake brand same-store sales trends for Q2 and earnings that should beat expectations, this is already largely priced in, the analyst tells investors in a research note. The firm remains cautious that macro challenges and says industry pressures represent risks to the sales outlook and shares.
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Read More on CAKE:
- Cheesecake Factory price target raised to $57 from $45 at Barclays
- Cheesecake Factory price target raised to $73 from $60 at Stephens
- Cheesecake Factory price target raised to $45 from $40 at Morgan Stanley
- Cheesecake Factory price target raised to $75 from $65 at Oppenheimer
- Cheesecake Factory downgraded to Neutral from Buy at Goldman Sachs