JPMorgan analyst John Ivankoe upgraded Cheesecake Factory to Neutral from Underweight with a price target of $68, up from $58, post the Q1 report. The company is showing steady execution in the face of macro headwinds, the analyst tells investors in a research note. The firm says Cheesecake's brands continue to benefit from industry-low employee turnover and lower than industry average supply growth in casual dining.
