Truist analyst Jake Bartlett lowered the firm’s price target on Cracker Barrel to $70 from $79 and keeps a Hold rating on the shares. The analyst cites the company’s large Q1 earnings miss and weaker than expected guidance. Truist adds that while traffic has been improving steadily for 4 months, it has required investments in marketing and staffing, which is pressuring margins.
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Read More on CBRL:
- Cracker Barrel price target lowered to $68 from $75 at BofA
- Cracker Barrel price target lowered to $75 from $82 at Loop Capital
- Cracker Barrel price target lowered to $70 from $75 at UBS
- Cracker Barrel price target lowered to $57 from $65 at Citi
- Cracker Barrel (NASDAQ:CBRL) Cracks on Big Q1 Miss
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