UPDATE: Deutsche Bank Reduces PT to $19 on Texas Roadhouse on Traffic Weakness
Deutsche Bank reiterated its Hold rating on Texas Roadhouse (NASDAQ: TXRH) and reduced its price target from $20 to $19.
Deutsche Bank commented, "While TXRH remains one of the best comp stories in casual dining, traffic has weakened of late and mgmt. put forth a conservative tone on pricing, both of which will exacerbate beef infl. concerns for next yr. Until we get more clarity on these issues, the stock is likely to remain range-bound."
Texas Roadhouse closed at $17.95 on Monday.
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