BTIG reaffirms its Buy rating and $60 price target on The Cheesecake Factory Inc. (Nasdaq: CAKE) following Q4 results issued Tuesday night.

Analyst Peter Saleh said the firm retained its Buy rating on Cheesecake Factory given the strong finish to 2015 and the considerably better start to 2016. We believe higher menu pricing, benign food costs and operating efficiencies can offset the significant labor inflation expected this year. Furthermore, we believe greater utilization of technology with the national rollout of mobile payment in the coming months could drive incremental same-store sales as adoption builds in 2017. We see the opportunity for earnings upside in the coming year, which should drive shares higher.

On the current sales trend, Saleh noted that comps have been solid since the start of the year amid tougher comparisons and Cheesecake Factory management is looking for Q1 comps to be up 1.5 - 2.5 percent, versus the firm's initial projection of a 1.0 percent drop.

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