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Fly News Breaks for October 17, 2018
TXRH
Oct 17, 2018 | 07:10 EDT
RBC Capital analyst David Palmer lowered his price target on Texas Roadhouse to $74 and kept his Outperform rating ahead of its earnings. The analyst notes that the stock has risen 31% year to date and its "8-turn premium" relative to peers requires mid-single digit growth in comps and double-digit growth in earnings, even though his proprietary comps growth model suggests another strong quarter for comps. Palmer further cites higher G&A expense in his revised price target, also lowering his FY19 EPS view to $2.66 from $2.75.
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