Citi lowered the firm’s price target on Cracker Barrel to $77 from $79 and keeps a Sell rating on the shares ahead of the fiscal Q4 report on September 13. It is hard to argue owning the shares heading into the print when it is likely too soon for a new CEO to have a credible strategy to drive long-term traffic, the analyst tells investors in a research note. The firm sees a high likelihood that a new CEO means setting a low bar for fiscal 2024 guidance.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on CBRL:
- Cracker Barrel: Julie Felss Masino will succeed Sandra Cochran as CEO
- Cracker Barrel initiated with a Neutral at Piper Sandler
- Ex-Dividend Date Nearing for These 10 Stocks – Week of July 17, 2023
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue