Truist raised the firm’s price target on Cracker Barrel (CBRL) to $64 from $63 and keeps a Buy rating on the shares. The post-earnings weakness in the stock is a buying opportunity given that the company’s improved menu and marketing strategy is working and its efficiency initiatives are starting to bear fruit, with the tariff risk also being quantified, the analyst tells investors in a research note. Cracker Barrel is in the early stage of its “transformation agenda”, with sales and margin catalysts to come, the firm added.
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