Cracker Barrel price target lowered to $70 from $79 at Truist

Truist analyst Jake Bartlett lowered the firm’s price target on Cracker Barrel to $70 from $79 and keeps a Hold rating on the shares. The analyst cites the company’s large Q1 earnings miss and weaker than expected guidance. Truist adds that while traffic has been improving steadily for 4 months, it has required investments in marketing and staffing, which is pressuring margins.