Jefferies Lifts Price Target on Cheesecake Factory (CAKE) to $33, Maintains Hold

Jefferies boosted its price target on Cheesecake Factory (NASDAQ: CAKE) from $28 to $33 following slightly better Q1 results but maintained their Hold rating.

The firm comments, "EPS of $0.37 vs. our/cons $0.36. +2.4% SSS in line w/ guide but below cons on +1.9% traffic & +0.5% weather. Co. saw lower COGS but op. mgn down on higher G&A. 2Q SSS guide +1.5-2.5% in line w/ the yr & '12 EPS guide raised to $1.83-1.91 on the beat. Our '12 EPS up to $1.87 & we intro ’13 est. $2.13 (cons. $2.11), but still find it hard to get excited about incremental drivers for the stock. PT $33 (fr. $28)."

Q2 EPS goes from $0.48 to $0.49, FY12 EPS goes from $1.84 to $1.87 and FY13 remains at $2.13.


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 $31.02 yesterday.

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