Cheesecake Factory price target raised to $73 from $70 at Raymond James

Raymond James raised the firm’s price target on Cheesecake Factory (CAKE) to $73 from $70 and keeps an Outperform rating on the shares. Industry comps were “noisy” in July, historically a month that can be difficult to read due to changes in summer travel and spending patterns, and calendar shifts, the analyst tells investors in a research note. Cheesecake Factory’s Q2 results reflected another quarter of strong margin performance at the core Cheesecake Factory concept coupled with strong sales and encouraging margins at its two primary growth brands North Italia and Flower Child, the firm says.