Wells Fargo raised the firm’s price target on Cheesecake Factory (CAKE) to $50 from $45 and keeps an Equal Weight rating on the shares. The firm says the company’s Q1 comparable sales met expectations, units accelerated and EPS nicely beat on RLM percentage. The backdrop is tough and execution solid, but amid still negative traffic, softer 2025 topline and shares appropriately rewarded year-to-date, Wells stays sidelined.
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