Truist analyst Jake Bartlett lowered the firm’s price target on Cracker Barrel to $101 from $109 and keeps a Hold rating on the shares. The analyst cites the company’s "significant" earnings miss and lowered guidance, though he also believes that the outlook was "somewhat conservative" given the solid November results and upcoming tailwinds. Bartlett adds that further estimate reductions are unlikely as key protein costs remain favorable.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CBRL:
- Cracker Barrel price target lowered to $100 from $106 at Deutsche Bank
- Cracker Barrel price target lowered to $86 from $94 at Citi
- Cracker Barrel Tanks on Q1 Bottom Line Miss
- CRACKER BARREL REPORTS FIRST QUARTER FISCAL 2023 RESULTS
- Cracker Barrel narrows FY23 total revenue growth view to 6%-8% from 7%-8%
