Cracker Barrel Store Closures Likely To Affect Sales, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Truist Securities analyst Jake Bartlett has reiterated a Hold rating on Cracker Barrel (NASDAQ:CBRL) and lowered the price target from $105 to $103. Bartlett expects store closures and weaker sales trends in May to affect sales, leading to a slight EPS beat. He also lowered FY23 and FY24 adjusted EPS estimates.
May 30, 2023 | 6:01 pm
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Cracker Barrel's price target has been lowered from $105 to $103 by Truist Securities analyst Jake Bartlett, who cites store closures and weaker sales trends in May as reasons.
The lowered price target and Hold rating by Truist Securities analyst Jake Bartlett is based on store closures and weaker sales trends in May. This is likely to have a negative short-term impact on Cracker Barrel's stock price, as investors may perceive the company's outlook as less favorable.
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