Cheesecake Factory (CAKE) PT Raised to $51 at Citi

Citi analyst Jon Tower raised the price target on Cheesecake Factory (NASDAQ: CAKE) to $51.00 (from $46.00) while maintaining a Buy rating.

The analyst comments "We don’t expect CAKE to be immune to 4th of July/weather choppiness in the industry (1.6% CF SSS vs Street at 1.2%), but believe: (1) there are still underappreciated margin gains to be had from COVID-era laps and improving tenured employees/operations, and, not unrelated, (2) CAKE will continue to speak to longer-term margin targets (e.g., 16%-17% store margins) with increasing confidence. In a sub-5% net margin model, this is a powerful lever to the bottom-line."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Phillips 66, Marathon Merger Talks Collapsed - Semafor
• Boeing lands two U.S. defense contracts worth over $711M