Cheesecake Factory price target raised to $46 from $44 at Barclays

Barclays analyst Jeffrey Bernstein raised the firm’s price target on Cheesecake Factory (CAKE) to $46 from $44 and keeps an Underweight rating on the shares as part of a 2025 outlook for the U.S. restaurants. The firm expects “more of the same” at the start of 2025 for the restaurants, with discretionary continuing to outperform. Industry comps have accelerated of late, with the consumer strengthening, compares are easing, and confidence is improving, the analyst tells investors in a research note. Barclays thinks growth to prevail over value, led by fast casual, with comps and inflation “moving favorably.”