UPDATE: J.P. Morgan Downgrades Texas Roadhouse on Fair Valuation
July 16, 2013 at 08:47 AM EDT
In a report published Tuesday, J.P. Morgan analyst John Ivankoe downgraded Texas Roadhouse (NASDAQ: TXRH ) from Overweight to Neutral, but raised the price target from $23.00 to $25.00. In the report, J.P. Morgan noted, “We see fair valuation as we believe top-line momentum/outperformance relative to industry and potential cost savings
