Cracker Barrel price target raised to $76 from $68 at BofA

BofA analyst Katherine Griffin raised the firm’s price target on Cracker Barrel (CBRL) to $76 from $68 and keeps an Underperform rating on the shares ahead of the company reporting fiscal Q2 EPS on February 27. During the earnings season to-date, casual dining peers Brinker (EAT) and Texas Roadhouse (TXRH) have reported taking additional price increases to offset inflation and also reported traffic growth ahead of consensus, suggesting November/December were strong for the industry, the analyst tells investors in an earnings preview.