Deutsche Bank Upgrades Texas Roadhouse (TXRH) to Buy

Deutsche Bank upgraded Texas Roadhouse (NASDAQ: TXRH) from Hold to Buy with a price target of $20.00 (from $19.00).

The firm comments, "At 15x 2013E P/E (vs. industry 19x), we believe beef infl. risk priced in. We also see limited downside risk to numbers in the near-term given a 2% price increase in Dec., ~8% unit growth, an extra week in 2013 and conservative Street ests. (+9% EPS growth in 2013E). TXRH shares are flat over past 2 yrs despite ~30% EPS growth over this period, highlighting mgmt.’s ability to grow earnings in the face of beef inflation and considerable multiple contraction. ICR conf. could be a catalyst."

For an analyst ratings summary and ratings history on Texas Roadhouse click here. For more ratings news on Texas Roadhouse click here.

Shares of Texas Roadhouse closed at $17.36 yesterday.

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