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Why Cheesecake Factory's Stock Is Trading Higher Today

Tanzeel Akhtar
·1 min read

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

Date

Firm

Action

From

To

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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