Texas Roadhouse price target lowered to $211 from $213 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Texas Roadhouse (TXRH) to $211 from $213 and keeps an Overweight rating on the shares. Bears, and the firm thinks “there were quite a few,” were playing for a Q4 miss and recent trends probably softer than what Texas noted and since investors “didn’t quite get that outcome,” it may support the stock, the analyst argues. However, the firm does not see “an all clear signal” because the company is still contending with relatively challenged sales at the moment, the analyst added.