UPDATE: Raymond James Upgrades Texas Roadhouse, Inc. to Strong Buy, Maintains $29.00 PT

In a research note from Raymond James Monday morning, Texas Roadhouse, Inc. TXRH was upgraded from Outperform to Strong Buy and the $29.00 price target was maintained. The firms analyst Bryan C. Elliot said, "TXRH has drifted to a point where it now has the lowest EV/EBITDA multiple in our growth restaurant universe." Elliot also sees continued historical out performance over it's industry peers, especially on same store sales. TXRH is trading at $25.26, up over 3 percent on the day.