RBC Capital raised the firm’s price target on Texas Roadhouse (TXRH) to $185 from $175 and keeps a Sector Perform rating on the shares. The company posted another quarter with really solid momentum as comps accelerated through the quarter and traffic continued to accelerate by about 100 bps into October, the analyst tells investors in a research note. Labor productivity also continues to improve with labor hour growth and traffic growth below 30% in Q3, driving leverage, the firm added.
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