Texas Roadhouse Has Potential for a Price Hike amidst Commodity Inflation, Analyst Says
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Nick Setyan reiterated a Buy rating on Texas Roadhouse Inc (NASDAQ:TXRH) with a price target of $123. The analyst increased Q3 same-store sales (SSS) growth estimate to 9.0% from 6.0% and the 2023 SSS growth estimate to 9.5% from 8.4%. The analyst views TXRH’s value proposition and operational initiatives as the primary drivers of SSS growth. The analyst decreased the 2023 EPS estimate slightly to $4.72 from $4.74. TXRH shares are trading lower by 2.06% at $109.91.
July 28, 2023 | 6:19 pm
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Wedbush analyst reiterated a Buy rating on Texas Roadhouse with a price target of $123. The analyst increased Q3 SSS growth estimate to 9.0% from 6.0% and decreased the 2023 EPS estimate slightly to $4.72 from $4.74.
The analyst's positive outlook on Texas Roadhouse, including an increased same-store sales growth estimate and a reiterated Buy rating, suggests potential upside for the stock. However, the slight decrease in the 2023 EPS estimate and the current trading lower could create some short-term volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100