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Shares of high-end restaurant chain Ruth's Hospitality Group(NASDAQ: RUTH) were surging 15% higher in midday trading Monday after an analyst boosted her price target for the eatery by 25% to $10 a share.
Piper Sandler analyst Nicole Miller Regan raised her outlook for the stock from its previous level of $8. But she was actually just playing catch-up with the market, which had already seen fit to lift the restaurant's stock above that price on Friday.