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Fly News Breaks for August 1, 2018
CAKE
Aug 1, 2018 | 06:51 EDT
JPMorgan analyst John Ivankoe says Cheesecake Factory's Q2 results are not as bad as they look. The headline earnings number included lots of "noise," including 4c from excluded asset impairment and higher group medical insurance and legal costs, which the company said accounts for 14c of downside, Ivankoe tells investors in a post-earnings research note. He raised his price target for Cheesecake Factory shares to $59 from $52 and keeps a Neutral rating on the name.
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