Texas Roadhouse price target lowered to $175 from $195 at RBC Capital

RBC Capital lowered the firm’s price target on Texas Roadhouse (TXRH) to $175 from $195 and keeps a Sector Perform rating on the shares ahead of its Q1 results. RBC says the stock is among the most durable in all of its coverage, noting that it sees slight upside to Street comps estimates for the quarter where elevated retail beef prices were likely a tailwind to traffic, the analyst tells investors in a research note. The firm adds, however, that the lack of visibility into improvement on beef pricing continues to weigh on margins and leaves RBC on the sidelines.