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Stephens Analyst Likes Cheesecake Factory: Same Store Sales Should Be Better

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Shares of Cheesecake Factory Inc (NASDAQ: CAKE) are trading down almost 1 percent after hours. The company reported Q1 EPS of $0.68 versus estimates of $0.61.

Stephens analyst Will Slabaugh expects Cheesecake's same store sales to improve following underperformance in Q1. He is positive on Cheesecake's ability to offset labor inflation impacts by leveraging other line items on the P/L ledger.

Slabaugh says the current valuation, which is around $51 after hours, fails to reflect Cheesecake's "same store sales consistency steady mid-single-digit unit growth profile, impressive operational performance, and aggressive share repurchases."

He kept a $58 PT and reiterates Overweight.

Latest Ratings for CAKE

Jul 2017BarclaysMaintainsEqual-Weight
Jul 2017InstinetInitiates Coverage OnNeutral
Jul 2017WedbushInitiates Coverage OnOutperform

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