Shares of The Cheesecake Factory reached a record high after Citi Research raised its price target to $90, citing positive traffic growth. Analyst Jon Tower noted that the company's new mobile app, expanding rewards program, and free slice promotion may return the chain to positive traffic, while a more engaging social media strategy, growing relevance with younger customers, and the re-emergence of malls as entertainment destinations support a stronger same-store sales trajectory. Industry data showed foot traffic inflected positively in the second quarter, improving to a 2.9% gain from a 1.4% decline in the first quarter, and transactions improved to negative 0.6% from negative 2.1%. Tower raised 2026 earnings per share estimates to $4.18 from $4.09 and 2027 estimates to $4.74 from $4.55. The company is expected to report second-quarter earnings of $1.16 per share on $994.7 million in sales after the market closes on July 28.
Adobe Inc.
Broadcom IncThe Cheesecake FactoryCiti Research raised price target to $90, citing positive traffic growth and raising EPS estimates