Texas Roadhouse rises after Evercore ISI upgrades stock rating to 'outperform'
BUZZ-Texas Roadhouse rises after Evercore ISI upgrades stock rating to 'outperform' ** Shares of restaurant chain Texas Roadhouse TXRH.O rise 1.2% to $158.01 in premarket trading after Evercore ISI upgrades stock to "outperform" from "in line" rating
** Brokerage cuts PT to $200 from $220, representing a 28% upside to the stock's last close of $156.14
** Evercore says the completed digital-kitchen rollout is giving restaurants more confidence to handle peak-hour demand, supporting further takeout growth and allowing co to test new menu items after years of limited innovation
** Roadhouse's strategy of pricing below inflation, while maintaining its focus on service, value, and execution, should help sustain strong same-store sales growth, brokerage adds
** 16 of 28 brokerages rate the stock "buy" or higher, 12 "hold"; their median PT is $211 - LSEG-compiled data
** As of last day's close, stock down ~6% YTD
(Reporting by Kanishka Ajmera in Bengaluru)
((mail to: Kanishka.Ajmera@thomsonreuters.com))