Cheesecake Factory price target raised to $56 from $51 at Raymond James

Raymond James raised the firm’s price target on Cheesecake Factory (CAKE) to $56 from $51 and keeps an Outperform rating on the shares. November restaurant industry sales data reflected improved industry trends, the analyst tells investors in a research note. The firm is encouraged by improving fundamentals at the core Cheesecake Factory brand this year, including sustained positive comp growth in a slightly negative industry backdrop and improved margin performance, and is optimistic that the company’s primary growth vehicles — North Italia and Flower Child — can accelerate unit growth into 2025 and beyond, supporting 7% consolidated revenue growth over time.