Evercore ISI downgraded Texas Roadhouse (TXRH) to In Line from Outperform with a $190 price target Texas Roadhouse continues to sustain strong same-store sales and traffic growth, but the firm is reducing its 2025 and 2026 EPS estimates as its base case now assumes double-digit beef inflation persists through the first half of 2026, the analyst tells investors. Given beef inflation and the firm’s assumption that the company will only execute about 3% year-over-year pricing, it factors in 130 basis points of food cost deleverage in FY25 and again in FY26, the analyst noted.
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