Stephens Initiates Coverage on Shares of Cheesecake Factory (CAKE); Up 3.5% in Early Trading

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November 29, 2011 10:48 AM EST
Get Alerts CAKE Hot Sheet
Price: $113.33 +6.38%

Rating Summary:
    9 Buy, 27 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Shares of Cheesecake Factory (NASDAQ: CAKE) are trading at the high's of the morning, currently at $27.97, Up $0.97 (+3.59%).

The stock may be getting some help from Stephens, which initiated coverage on CAKE this morning with an Overweight. Price target $34.00.

Two other points of interest: 1) from Bloomberg's top 50 short decliners list, the amount of shorts fell from 9.95 mln shares on Oct. 31 to 8.37 mln shares on Nov. 15.; 2) Back on November 15, Cheesecake's Director, Herbert Simon, invested $688k into 25k shares of CAKE, for a cost per share of $27.54 (he's been cited in the past as a bargain hunter).

To see more ratings on CAKE, Click Here


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