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Fly News Breaks for May 7, 2019
TXRH
May 7, 2019 | 08:33 EDT
As previously reported, Longbow analyst Alton Stump upgraded Texas Roadhouse to Buy from Neutral, stating that he sees the current valuation as an attractive entry point following the selloff in the stock after the company's Q1 earnings report. Though earnings were recently pressured by labor cost inflation, Texas Roadhouse's sales growth actually accelerated in recent quarters, Stump tells investors. He said he is confident the company can at least hit, if not beat, his comp growth estimates in 2019 and "especially 2020." Stump set a $65 price target on Texas Roadhouse shares.
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