Cheesecake Factory, Cava, Spotify: Trending tickers

Stocks (^GSPC) are higher after falling mid-day on Wednesday.

Cheesecake Factory (CAKE) gets an upgrade on potential growth in 2024, with analysts optimistic about growth for the company.

Cava (CAVA) gets an upgrade fro, Wedbush to “Outperform” seeing upside, despite conservative guidance.

Spotify (SPOT) stocks jump slightly following an upgrade from “Buy” to “Hold” with analysts noting a new “financial focus” as grounds for the upgrade.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Video Transcript

- Stocks higher once again after falling midday on Wednesday.

- And here, we look at some of those individual names. Cheesecake Factory and CAVA are both rising after Wedbush boosted them to "Outperform" from "Neutral" on Cheesecake. The analysts saying that they are optimistic about the company in 2024, but for transaction growth, they are expecting not to outperform some of their peers. They're also hopeful that declining interest rates will alleviate some of the pressure that we have seen on valuation and also on consumers.

- As for CAVA, Wedbush analysts expect another quarter of upside compared to the company's conservative guidance, while lower grocery inflation could be viewed as a threat to the fast casual space in 2024. The analysts see CAVA overcoming this headwind.

- And we are watching Spotify. The audio streamer also getting a boost or getting an upgrade here this morning, moving to the upside on that upgrade, up just about 2%. Pivotal Research boosting the stock to "Buy" from "Hold," increasing the price target to 265 from 170. Now, the analysts, they're saying that the company's renewed focus on financial discipline will allow for higher free cash flow.