Cracker Barrel price target lowered to $58 from $62 at Truist

Truist lowered the firm’s price target on Cracker Barrel (CBRL) to $58 from $62 and keeps a Buy rating on the shares. The firm notes the company’s Q4 earnings miss but also recommends to buy the weakness based on its view that the core drivers of the brand turnaround are intact and that sales may start to recover from the re-branding backlash soon with the resumption of the Fall Menu marketing, the analyst tells investors in a research note. The initial FY26 guidance is far lower than expected but also appears to include high marketing and labor spend to support the sales recovery, the firm added.