Goldman Sachs Upgrades Cheesecake Factory (CAKE) to Buy
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Goldman Sachs upgrades Cheesecake Factory Incorporated (Nasdaq: CAKE) from Neutral to Buy with a $23 price target. The firm sees significant upside to 2010 earnings on recovering sales and margin opportunities.
The firm said investors should own the stock for its leverage to a cyclical recovery, but without the headwinds of secular issues that face others in casual dining.
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