Cracker Barrel price target raised to $60 from $42 at UBS

UBS raised the firm’s price target on Cracker Barrel (CBRL) to $60 from $42 and keeps a Neutral rating on the shares. Cracker Barrel’s Q1 call highlighted improving sales trends in a still difficult macro, while reaffirming FY25 guidance and indicating continued progress against strategic plans, the analyst tells investors in a research note. FY25 guidance appears achievable, UBS says, adding that the firm is encouraged by same store sales outperformance to industry trends and traffic improvement, while Thanksgiving results in Q2 sound positive, though traffic remains pressured near-term as macro headwinds persist, while management doesn’t expect a significant improvement in results until 2H26 with an acceleration into FY27.