BofA lowered the firm’s price target on Cracker Barrel (CBRL) to $29 from $34 and keeps an Underperform rating on the shares. Cracker Barrel’s weaker than expected fiscal Q1 results and lowered guidance reflect the protracted nature of the brand recovery, says the analyst, who lowers the firm’s Q2 restaurant same-store sales estimate to down 7.7% as it anticipates a more protracted traffic recovery throughout the year.
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