Cracker Barrel price target raised to $61 from $60 at Citi

Citi analyst Jon Tower raised the firm’s price target on Cracker Barrel to $61 from $60 and keeps a Sell rating on the shares post the fiscal Q2 report. Cracker Barrel remains in the midst of testing all possible levers to improve traffic and store-level profitability but at a hefty cost to margin and profits, the analyst tells investors in a research note. Based on guidance, this dynamic is not set to improve for at least another quarter, says Citi.