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Fly News Breaks for February 22, 2018
CAKE
Feb 22, 2018 | 07:07 EDT
BTIG analyst Peter Saleh raised his price target on Cheesecake Factory to $55 after Q4 results, citing continued improvement in sales trends as well as the company's view of implied sequential revenue growth and comps returning to positive territory in Q1. Saleh says the company's "more aggressive value proposition" and easing comparisons in the second half of this year will produce rising sales. The analyst keeps his Buy rating on Cheesecake Factory, also pointing to the positive impact of To-Go sales growth and the launch of online ordering in the coming months.
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