Texas Roadhouse's stock soared 11.65% in pre-market trading on Friday, reflecting strong investor optimism.

The significant upward movement appears to be primarily driven by positive analyst action from BofA. The firm raised its price target on Texas Roadhouse to $234 from $225 while maintaining a Buy rating on the shares. Furthermore, BofA raised its estimates for the company's fiscal year 2026 performance, signaling increased confidence in the restaurant chain's financial outlook.

While other analysts provided mixed assessments throughout the pre-market session, BofA's substantial target boost and upgraded FY26 estimates served as the key catalyst for the rally.