Texas Roadhouse price target lowered to $105 from $115 at Stephens

Stephens analyst Joshua Long lowered the firm’s price target on Texas Roadhouse to $105 from $115 and keeps an Equal Weight rating on the shares. Q3 results were in-line with expectations on a revenue basis and “a touch below” expectations on an EPS basis, says the analyst, whose now lower multiple reflects a discount to the stock’s five-year average reflecting recent re-rating across the space.