Jim Cramer Says Buy Texas Roadhouse (TXRH)

We recently published 10 Stocks on Jim Cramer’s Radar.  Texas Roadhouse, Inc. (NASDAQ:TXRH) is one of the stocks that on Jim Cramer’s radar.

Casual restaurant chain Texas Roadhouse, Inc. (NASDAQ:TXRH) is a stock that Jim Cramer frequently discusses. Recently, his remarks have centered on the firm’s exposure to beef prices. The CNBC TV host believes that Texas Roadhouse, Inc. (NASDAQ:TXRH) can experience tailwinds from a drop in beef prices. However, recently, Truist was out with a pessimistic take for the firm. The investment bank downgraded Texas Roadhouse, Inc. (NASDAQ:TXRH)’s shares to Hold from Buy and lowered the share price target to $188 from $206. Like Cramer, beef prices were also on the bank’s mind as it outlined that high prices could persist and hit the restaurant chain’s margins. However, while Truist downgraded to Hold, Cramer advised a Buy in response to news of President Trump signing an executive order to import more beef from Argentina. Through the order, the US will quadruple the amount of beef that it imports from Argentina in order to increase supply and lower the price:

Jim Cramer Says Buy Texas Roadhouse (TXRH)

Photo by Syed Ahmad on Unsplash

“Buy Texas Roadhouse TXRH”

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Disclosure: None. This article is originally published at Insider Monkey.