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Fly News Breaks for December 12, 2019
TXRH
Dec 12, 2019 | 05:13 EDT
Goldman Sachs analyst Katherine Fogertey initiated coverage of Texas Roadhouse with a Sell rating and $52 price target. While the analyst expects the company to continue outperforming industry peers from a comp perspective, she's concerned that higher commodity and labor inflation in 2020 will drive restaurant margins below its longer term guidance of 17%-18%. Consensus estimates are not adequately modeling the impact to margins, Fogertey tells investors in a research note.
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