Truist raised the firm’s price target on Cracker Barrel (CBRL) to $65 from $64 and keeps a Buy rating on the shares. The recent pricing of new convertible notes is a positive for the stock, given its attractive terms of a 1.75% coupon and the management’s apparent decision to minimize FY26 interest expense by only repurchasing half of its existing convertible notes maturing 6/15/25, the analyst tells investors in a research note.
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