Cracker Barrel price target lowered to $85 from $97 at Truist

Truist lowered the firm’s price target on Cracker Barrel to $85 from $97 and keeps a Hold rating on the shares ahead of its Q4 results next week. Truist Card data suggests a sales miss and further deceleration in August, attributable to weak retail sales as lower income consumers tighten their belts, the analyst tells investors in a research note. Cracker Barrel has already seen a significant valuation compression however as demonstrated by its 6.9% dividend yield, and the likely weak results are priced into the stock, the firm added.