Truist keeps a Hold rating and $79 price target on Cracker Barrel. The company’s FY24 effective tax rate guidance of 6% disclosed in its 10K is notable as it implies earnings before taxes and EPS slightly above consensus expectations, though the firm is maintaining its EBT estimates given Cracker Barrel’s decelerating sales trends in Q4, the analyst tells investors in a research note. Truist is also raising its FY24 EPS view by 18c to $5.24 and its FY25 view by 8c to $5.82.
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