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Cracker Barrel price target lowered to $86 from $94 at Citi
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Cracker Barrel price target lowered to $86 from $94 at Citi

Citi analyst Jon Tower lowered the firm’s price target on Cracker Barrel to $86 from $94 and keeps a Sell rating on the shares post the fiscal Q1 results. The company’s guidance "embeds a significant improvement" in margins by fiscal Q4, "which we believe comes with high risk," Tower tells investors in a research note. The analyst says Cracker Barrel’s underlying deterioration in dining room traffic suggests the sales guidance may carry greater risk than prior, and that a "slowdown here may take an even bigger toll on retail markdowns."

Published first on TheFly

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