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Fly News Breaks for July 26, 2016
CAKE
Jul 26, 2016 | 07:32 EDT
Stifel analyst Paul Westra downgraded Cheesecake Factory based on the firm's belief that the U.S. economy will probably enter a recession within nine months. As a result, the firm now expects two year industrywide comps to come in at 0.5% in the first half of 2018, versus the consensus outlook of 1.75%, Westra stated. The analyst says that Cheesecake Factory's stock tends to be highly leveraged to the U.S. economy. Target to $43 from $65.
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