Texas Roadhouse rises after Evercore ISI upgrades stock rating to 'outperform'
TXRH•Texas Roadhouse shares rose 1.2% in premarket trading after Evercore ISI upgraded its rating to “outperform” from “in line” and cut its price target to $200 from $220.
1. Upgrade and rationale
Evercore ISI said the completed digital-kitchen rollout is giving restaurants more confidence to handle peak-hour demand, supporting takeout growth and allowing the company to test new menu items. It added that Texas Roadhouse’s strategy of pricing below inflation while focusing on service, value and execution should help sustain strong same-store sales growth.
