UPDATE: Loop Capital Starts Cracker Barrel (CBRL) at Hold

Loop Capital analyst Alton Stump initiates coverage on Cracker Barrel (NASDAQ: CBRL) with a Hold rating and a price target of $140.00.

The analyst comments "Our price target of $140 is based on 9x our 2022 EV/EBITDA estimate. We are modeling EPS for CBRL of $1.47 for 1Q22 ($0.11 below consensus) $8.42 for FY22 ($0.13 below consensus) and $9.02 for FY23 ($0.13 below consensus). For CBRL’s restaurant comps, we are modeling 20.5% growth for fiscal 1Q22, 15.6% growth for FY22 and 2.5% growth for FY23. On the net unit growth front, we expect the company’s store count to grow 2.6% in FY22 (vs. slight 0.4% growth in FY21) and 2.5% in FY23."

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 $142.68 yesterday.

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