Truist raised the firm’s price target on Cracker Barrel (CBRL) to $48 from $44 and keeps a Hold rating on the shares. The company reported a “solid” Q1 preliminary SSS and margins, but while its strong outperformance vs. peers is encouraging, trends remain volatile, the analyst tells investors in a research note. Cracker Barrel’s aggressive menu pricing is supporting margins, with a further boost in Q2 coming from Heat n’ Serve pricing and potentially easing commodity prices, the firm adds.
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