Cracker Barrel price target lowered to $75 from $82 at UBS

UBS analyst Dennis Geiger lowered the firm’s price target on Cracker Barrel to $75 from $82 and keeps a Neutral rating on the shares. Cracker Barrel’s Q2 results and commentary highlighted still-pressured traffic trends and persistent margin headwinds, but also strategic plans to strengthen growth and profitability, the analyst tells investors in a research note. Valuation is undemanding, but margin and macro pressures could limit upside near-term, the firm says.