Barclays raised the firm’s price target on Cheesecake Factory (CAKE) to $62 from $57 and keeps an Underweight rating on the shares. The company reported solid Q2 results, with adjusted earnings upside despite an in-line comp, the analyst tells investors in a research note. The firm believes Cheesecake’s favorable trends are already priced into the shares.
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Read More on CAKE:
- Strong Q2 Performance and Strategic Growth Drive Buy Rating for The Cheesecake Factory
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- Cheesecake Factory sees Q3 revenue $905M-$915M, consensus $914.53M
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