Optimistic Sales And EPS Predictions For Texas Roadhouse Amid Strong Dine-In Traffic: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
Wedbush analyst Nick Setyan has reiterated an Outperform rating on Texas Roadhouse, Inc. (NASDAQ:TXRH), with a price target of $123. Despite near- and medium-term margin headwinds, TXRH is expected to be a primary share gainer within the casual dining category. The analyst projects stronger dine-in traffic and increased sales for Q2 due to higher levels of local marketing. The 2023 and 2024 EPS estimates have been raised to $4.74 and $5.48 respectively. However, risks to commodity inflation and hourly labor growth could weigh on current consensus expectations.
June 29, 2023 | 6:09 pm
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Texas Roadhouse, Inc. (NASDAQ:TXRH) has received an Outperform rating from Wedbush analyst Nick Setyan, with a price target of $123. The company is expected to see stronger dine-in traffic and increased sales for Q2. However, risks to commodity inflation and hourly labor growth could impact the company's performance.
The Outperform rating and the raised price target indicate the analyst's positive outlook on the company. The expected increase in dine-in traffic and sales for Q2 could boost the company's performance. However, risks related to commodity inflation and hourly labor growth could potentially offset these gains.
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