Freedom Capital analyst Lynne Collier initiated coverage of Cheesecake Factory (CAKE) with a Hold rating and $56 price target The firm likes the company’s portfolio of premium casual dining brands and believes its smaller growth brands are underappreciated by the Street. However, it comes out on the sidelines due to macro headwinds and its channel checks that suggest upscale casual dining comps are being pressured to a greater degree than the broader industry.
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