Wells Fargo analyst Zachary Fadem raised the firm’s price target on Cheesecake Factory (CAKE) to $65 from $60 and keeps an Equal Weight rating on the shares. The firm sees shares deservedly higher post-Q1 comparable sales/EPS beat, traction with Bites/ Bowls menu and new loyalty program success. Shares have worked and sentiment is positive, but Wells still believes risk/reward is balanced.
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Read More on CAKE:
- Cheesecake Factory price target raised to $65 from $58 at Baird
- Cheesecake Factory: Hold Reaffirmed as Solid Q1 Rebound and Loyalty Momentum Drive Price Target Increase to $65 Amid Balanced Risk/Reward
- Cheesecake Factory price target raised to $65 from $61 at Stephens
- Cheesecake Factory price target raised to $60 from $58 at Barclays
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