Oppenheimer analyst Brian Bittner upgraded Cheesecake Factory (CAKE) to Outperform from Perform with a $65 price target The firm said it has become bullish on the stock for the first time since launching its restaurant franchise in 2011, adding that it anticipates a breakout performance in 2025 as the model is finally armed with same-store sales and margin upside. The rest of the portfolio now hits an underappreciated unit growth inflection with coveted brands at a valuation discount to peers that supports optionality, the analyst tells investors in a research note.
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