Cheesecake Factory price target raised to $55 from $52 at BofA

BofA raised the firm’s price target on Cheesecake Factory (CAKE) to $55 from $52 and keeps a Neutral rating on the shares. The firm’s FY25 EPS estimate moves down to $3.65 from $3.75 as it lowered its FY25 same-store sales growth estimate to 0.6% from 1.9%, assuming mix stays more negative throughout the course of the year, the analyst noted. The firm is also rolling forward estimates one quarter, the analyst noted.