Argus Upgrades Cracker Barrel (CBRL) to Buy

December 1, 2016 8:11 AM EST
Get Alerts CBRL Hot Sheet
Price: $157.63 -0.16%

Rating Summary:
    4 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Argus upgraded Cracker Barrel (NASDAQ: CBRL) from Hold to Buy with a price target of $190.00.

The analyst notes the company has reported higher comp sales for ten consecutive quarters, and they expect its “barbell strategy,” with a dual focus on more expensive menu items and value meals, to result in low single-digit comp growth in FY17.

The firm raising FY17 EPS estimate from $8.12 to $8.30 and our FY18 estimate from $8.70 to $8.88. The firm's long-term earnings growth rate estimate is 11%.

For an analyst ratings summary and ratings history on Cracker Barrel click here. For more ratings news on Cracker Barrel click here.

Shares of Cracker Barrel closed at $162.74 yesterday.



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