Truist raised the firm’s price target on Cracker Barrel (CBRL) to $48 from $44 and keeps a Hold rating on the shares. The company reported a “solid” Q1 preliminary SSS and margins, but while its strong outperformance vs. peers is encouraging, trends remain volatile, the analyst tells investors in a research note. Cracker Barrel’s aggressive menu pricing is supporting margins, with a further boost in Q2 coming from Heat n’ Serve pricing and potentially easing commodity prices, the firm adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CBRL:
- Cracker Barrel price target raised to $45 from $42 at BofA
- Biglari says Cracker Barrel preliminary Q1 report ‘reinforces our concerns’
- Disney reports Q4 beat, Capri-Tapestry call off deal: Morning Buzz
- Cracker Barrel sees Q1 adjusted EPS 45c, consensus 40c
- Cracker Barrel still sees FY25 revenue $3.4B-$3.5B, consensus $3.44B