Cheesecake Factory price target raised to $65 from $56 at BofA

BofA analyst Sara Senatore raised the firm’s price target on Cheesecake Factory (CAKE) to $65 from $56 and keeps a Neutral rating on the shares. The firm attributes a higher multiple for its raised target as it expects current investor enthusiasm for consumer stocks to continue, but reiterates a Neutral rating owing to low likelihood of positive EPS revisions or further multiple expansion.