Cracker Barrel reinstated with a Buy, $116 price target at CL King

As previously reported, CL King analyst Andrew Wolf reinstated coverage of Cracker Barrel with a Buy rating and $116 price target. The analyst, who notes that Cracker Barrel’s strategy is to revive the earnings power of its namesake brand while growing its Maple Street Biscuit Company brand, sees the company being positioned to restart earnings growth.