Texas Roadhouse upgraded at Morgan Stanley As previously reported, Morgan Stanley upgraded Texas Roadhouse to Overweight from Equal Weight. The firm upgraded shares citing pricing power and management execution. Price target is $19.
Texas Roadhouse sees positive comparable restaurant sales growth in FY15 Sees 25 to 30 company restaurant openings, including as many as five Bubba's 33 restaurants. For FY15 sees: Food cost inflation of 3% to 4%; An income tax rate of approximately 30.0% to 31.0% depending on the reinstatement of certain federal tax credits; and Total capital expenditures of $135M-$145M. :