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Fly News Breaks for January 8, 2019
CAKE
Jan 8, 2019 | 08:04 EDT
As previously reported, Raymond James upgraded Cheesecake Factory to Outperform from Market Perform and established a $50 price target. Analyst Brian Vaccaro raised Cheesecake's Q4 earnings estimate to 63c from 61c to reflect a comp of 1.5%, versus 1% prior, due to better than expected industry sales. The analyst believes sentiment is overly negative and that initial 2019 earnings guidance could be a positive catalysts for shares into the Q4 earnings season.
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