Cheesecake Factory Sours on Lowered Estimates
On Wednesday the AP reported that a SunTrust Robinson Humphrey analyst dropped his rating on casual dining chain Cheesecake Factory (CAKE) from “Buy” to “Neutral.” The analyst also offered up the following in a research note: “We believe weak casual dining sales during back-to-school portends a challenging holiday season which has probably scared certain large casual dining chains into planning more aggressively priced promotions. Unfortunately we do not believe [Cheesecake Factory] is prepared to counteract aggressive marketing from competitors and will likely experience decelerating guest counts through the balance of 2008." The analyst also lowered his EPS estimate for ...
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