Credit Suisse Starts Texas Roadhouse (TXRH) at Neutral

After the close, Credit Suisse initiated coverage on Texas Roadhouse (NASDAQ: TXRH) with a Neutral rating and a price target of $35.00.

Analyst Jason West said the stock continues to be one of best top line stories in the casual dining space. However, this has not translated into outsized EPS growth. Despite somewhat disappointing earnings, valuation has inflated higher with the group. Shares now trade at 26x NTM P/E, the highest level since 2006 and well above the 3-year average of 18.7x.

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 $36.95 yesterday.

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