Texas Roadhouse price target raised to $162 from $155 at BMO Capital

BMO Capital analyst Andrew Strelzik raised the firm’s price target on Texas Roadhouse (TXRH) to $162 from $155 and keeps a Market Perform rating on the shares. The company’s Q3 earnings miss reflected higher D&A/taxes and insurance adjustments, though the firm is raising its price target in recognition of its superior comp growth in a challenging environment, the analyst tells investors in a research note. BMO warns however that the stock’s multiple is elevated and the 2025 consensus EPS is “too high”.