Stifel analyst Chris O’Cull raised the firm’s price target on Texas Roadhouse (TXRH) to $180 from $170 and keeps a Hold rating on the shares. The firm notes Roadhouse reported mixed results, with Q1 comparable sales up 3.5%, but EPS below the Street mean, driven primarily by ROM compression. Stifel was pleased with the company’s results given volatile top-line trends during the quarter. The firm raised its full-year EPS estimate primarily to reflect the Q1 beat and the stronger sales momentum in Q2. While Stifel is encouraged by the improvement in the trends, it remains on the sidelines as it believes the current valuation fairly balances the risk/reward.
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