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Barclays Maintains an 'Equalweight' on Cheesecake Factory (CAKE); Management Meetings...A Bullish Tone

November 22, 2011 2:41 PM EST
Get Alerts CAKE Hot Sheet
Price: $36.52 +0.41%

Rating Summary:
    11 Buy, 20 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 10
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Barclays maintains an 'Equalweight' on Cheesecake Factory (NASDAQ: CAKE) price target of $30.00.

Barclays analyst says, "We recently hosted meetings with CAKE management and characterize the tone as bullish specific to current top- & bottom-line guidance. While macro challenges prevail, leading to a recent comp shortfall, the new menu and easing compares should support comp re-acceleration. Looking to 2012, guidance is for low-teen EPS growth (similar to 2011), which should be viewed favorably in the current challenging macro. We believe the shares fairly valued, though for those looking for all-elusive unit growth, we believe the re-acceleration at CAKE justified, taking share in the Flat (at best) casual dining segment. The shares are at 14x forward vs the 8-22x 3-year range and 17.5x average."

For an analyst ratings summary and ratings history on Cheesecake Factory click here. For more ratings news on Cheesecake Factory click here.

Shares of Cheesecake Factory closed at $26.35 yesterday.


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