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Article: Cheesecake Factory stays hot as analysts worry over profits.(Wall Street West)("Cheesecake Factory Inc")(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- September 13, 2004
- Author:
CopyrightCOPYRIGHT 2004 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DESPITE warnings from several analysts that Cheesecake Factory's stock may be nearing a fall as costs for building and commodities mount, investors appear unfazed. Last Tuesday, following a Sept. 6 Barron's article that detailed slower earnings growth and challenges facing the Calabasas Hills-based company, Cheesecake's stock rose 1.3 percent to close at $41.16 a share.
"It takes time for people to realize what's going on and the risk that's inherent," said Eric Wold, managing director at investment bank Merriman Curhan Ford & Co. in San Francisco. Wold maintains a neutral rating on the stock. "It's been the darling stock of Wall Street and I think people tend to ...