Citi raised the firm’s price target on Cracker Barrel (CBRL) to $47 from $45 and keeps a Sell rating on the shares as part of a fiscal Q4 earnings preview. The company’s turnaround momentum likely stalled amid negative attention around its proposed logo change, the analyst tells investors in a research note. Citi also believes investors are looking to avoid brands that rely on lower-income consumers, such as Cracker Barrel.
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