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.
Latest Ratings for TXRH
|Jul 2016||Maxim Group||Downgrades||Buy||Hold|
|Apr 2016||Raymond James||Downgrades||Outperform||Market Perform|
|Feb 2016||Credit Suisse||Maintains||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.