Cheesecake Factory price target raised to $62 from $57 at Barclays

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.