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Cheesecake Factory (NASDAQ:CAKE) was upgraded by equities research analysts at Ned Davis Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, AmericanBankingNews.com reports.

Shares of Cheesecake Factory (NASDAQ:CAKE) traded up 0.51% on Monday, hitting $44.92. The stock had a trading volume of 1,004,747 shares. Cheesecake Factory has a 1-year low of $32.64 and a 1-year high of $49.74. The stock has a 50-day moving average of $46.34 and a 200-day moving average of $45.26. The company has a market cap of $2.281 billion and a P/E ratio of 23.66.

Other equities research analysts have also recently issued reports about the stock. Analysts at Buckingham Research initiated coverage on shares of Cheesecake Factory in a research note to investors on Thursday, January 9th. They set a “buy” rating on the stock. Separately, analysts at UBS AG initiated coverage on shares of Cheesecake Factory in a research note to investors on Wednesday, January 8th. They set a “neutral” rating on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Cheesecake Factory in a research note to investors on Tuesday, January 7th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $44.71.

The Cheesecake Factory Incorporated is engaged in the restaurant and bakery businesses. As of February 28, 2013, it operated 177 Company-owned upscale, casual dining, full-service restaurants: 162 under The Cheesecake Factory mark, 14 under the Grand Lux Cafe mark and one under the RockSugar Pan Asian Kitchen mark.

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