UPDATE: Deutsche Bank Downgrades Texas Roadhouse (TXRH) to Hold

Deutsche Bank analyst Brian Mullen downgraded Texas Roadhouse (NASDAQ: TXRH) from Buy to Hold with a price target of $101.00 (from $100.00).

The analyst comments "On the back of TXRH's recent 3Q22 earnings release and outlook, we are moving our rating to Hold, down from our previous rating of Buy. Overall, this is a Risk Reward and Valuation call, and there is not much more to it than that. For context into our thought process / decision making here, we last revisited TXRH with an "earnings preview" note ~two weeks ago when the stock was in the ~$93 range, sticking with our Buy rating and setting a price target of $100 at that time. Following the earnings event late last week, our revised price target goes to $101, which is no longer enough upside to continue to justify a Buy rating, hence the ratings change."

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 $98.71 yesterday.

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