Deutsche Bank Downgrades Texas Roadhouse (TXRH) to Hold

Deutsche Bank downgraded Texas Roadhouse (NASDAQ: TXRH) from Buy to Hold with a price target of $22.00. Analyst Jason West thinks traffic is key to the stock's performance.

"TXRH has already locked in the bulk of its commodity needs for 2013 and menu pricing is set, leaving traffic as the key variable in the earnings outlook. We assume ~+1% traffic growth in 2013, similar to 2012 and reflecting a gradual economic rebound. Significant upside seems unlikely, barring more robust macro data," said West.

For an analyst ratings summary and ratings history on Texas Roadhouse (NASDAQ: TXRH) click here. For more ratings news on Texas Roadhouse click here.

Shares of Texas Roadhouse closed at $20.42 yesterday.

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