Why Cheesecake Factory's Stock Is Trading Higher Today

Tanzeel Akhtar

Mon, Nov 9, 2020, 11:34 AM1 min read

In this article:

Cheesecake Factory (NASDAQ: CAKE) shares are trading higher after Deutsche Bank upgraded the stock from Hold to Buy and announced a $40 price target.

Cheesecake Factory owns and operates restaurants in the United States and Canada under brands that include Cheesecake Factory, North Italia, and a collection within the Fox Restaurants Concepts subsidiary. The company's international presence, in the Middle East and Mexico, is through licensing agreements with third parties.

The company also has a bakery division that produces cheesecakes and other baked products for sale in its restaurants, international licensees, and third-party bakery customers. The company has four operating business segments: The Cheesecake Factory restaurants, North Italia, other FRC, and others. Most of the company's revenue comes from The Cheesecake Factory restaurants segment.

Cheesecake Factory shares were trading up 22.02% at $37.90 on Monday. The stock has a 52-week high of $44.66 and a 52-week low of $14.52.

Latest Ratings for CAKE

Nov 2020	Deutsche Bank	Upgrades	Hold	Buy
Nov 2020	Credit Suisse	Maintains		Neutral
Nov 2020	Morgan Stanley	Maintains		Underweight

View More Analyst Ratings for CAKE
View the Latest Analyst Ratings

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Why Cheesecake Factory's Stock Is Trading Higher Today

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