Why Cheesecake Factory's Stock Is Trading Higher Today

Cheesecake Factory CAKE shares are trading higher on Monday after Wedbush maintained its Neutral rating on the stock and raised its price target from $26 to $31 per share.

Cheesecake Factory owns and operates restaurants in the United States and Canada under brands that include Cheesecake Factory, North Italia, and a collection within the Fox Restaurants Concepts subsidiary. The company's international presence, in the Middle East and Mexico, is through licensing agreements with third parties.

The company also has a bakery division that produces cheesecakes and other baked products for sale in its restaurants, international licensees, and third-party bakery customers. The company has four operating business segments: The Cheesecake Factory restaurants, North Italia, other FRC, and others. Most of the company's revenue comes from The Cheesecake Factory restaurants segment.

Cheesecake Factory shares traded up 7.64% to $32.81 on Monday. The stock has a 52-week high of $45.24 and a 52-week low of $14.52.