Janney Montgomery Scott Initiates Coverage on The Cheesecake Factory (CAKE) with a Neutral
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Janney Montgomery Scott initiates coverage on The Cheesecake Factory (Nasdaq: CAKE) with a Neutral.
Janney analyst says, "The company enjoys a competitive advantage in that the complex operations of The Cheesecake Factory and Grand Lux Cafe are unlikely to be duplicated in any meaningful way by any would-be direct competitor. As such, the company will continue to offer a differentiated dining experience to its guests (as opposed to more low-end varied-menu casual-dining restaurants). Nevertheless, the tough casual-dining environment in general leads us to forecast that negative same-store sales will persist through Q4 2010. All in all, the company's (and stock's) positives and negatives seem to fairly balance each other out at the present time, leading to our NEUTRAL rating."
To see more analyst ratings on CAKE Click Here.
The Cheesecake Factory Incorporated operates upscale, full-service casual dining restaurants in the United States.
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