- Deutsche Bank upgrades Texas Roadhouse (NASDAQ:TXRH) to a Buy rating from Hold after the recent pullback in share price.
- The firm says it sees 18% upside potential up to its price target on the restaurants stock of $116.
- Analyst Brian Mullan points to the strong QDT trends disclosed by Texas Roadhouse in late April.
- TXRH: "Top line momentum continued in the first four weeks of our second quarter with average weekly sales over 124,000 and comparable sales up 126.7% versus 2020 and up 20.9% versus 2019. Our To-Go sales trend also continued with To-Go over 23,000 per week representing 18.7% of total sales at all restaurants. And we continue to maintain elevated levels of To-Go sales regardless of the restaurant's level of dining room capacity."
- Texas Roadhouse earnings call transcript.
- Shares of Texas Roadhouse are up 1.75% premarket to $100.27 and are 26.09% higher on a YTD look.