Cheesecake Factory price target raised to $75 from $65 at Oppenheimer

Oppenheimer raised the firm’s price target on Cheesecake Factory (CAKE) to $75 from $65 and keeps an Outperform rating on the shares. The firm notes Cheesecake’s +35% year-to-date performance is highest among restaurant stocks, and its updated analysis enables Oppenheimer to reinforce the upgrade thesis established in early January. The firm predicts the next leg of outperformance to be driven by positive EPS revisions. The stock gains in the first half of 2025 were driven entirely by valuation expansion, yet Cheesecake’s about 15-times price-to-earnings remains an attractive entry point as the business becomes viewed as higher-quality and its strengthening growth concepts enhance the model’s above-average unit growth profile.