Cracker Barrel price target raised to $75 from $70 at Truist

Truist raised the firm’s price target on Cracker Barrel to $75 from $70 but keeps a Hold rating on the shares ahead of its Q2 results. Consensus estimates for comps of -1.4% may prove to be conservative as the firm’s Truist Card Data point to a beat, the analyst tells investors in a research note. Improving sales trends are encouraging, even though it is difficult to judge profit flow-through as Cracker Barrel management spends to drive sales, the firm added.