Cracker Barrel price target lowered to $70 from $75 at UBS

UBS lowered the firm’s price target on Cracker Barrel to $70 from $75 and keeps a Neutral rating on the shares. Cracker Barrel’s Q1 earnings commentary highlighted continued traffic pressures and incremental investments weighing on margins, while FY24 guidance largely underwhelmed, the analyst tells investors in a research note.