Cracker Barrel (CBRL) PT Lowered to $62 at BofA Securities

BofA Securities analyst Sara Senatore lowered the price target on Cracker Barrel (NASDAQ: CBRL) to $62.00 (from $72.00) while maintaining a Underperform rating.

The analyst comments "CBRL shares are down 27% YTD (vs S&P Restaurants Index -1%). We believe CBRL’s lagging SSSG trends are the key driver of underperformance. Pre-COVID (F18-19), CBRL maintained a 2 ppt positive gap in SSSG to the full service restaurant (FSR) average. In 2020, CBRL’s gap versus the FSR average turned negative (-1 ppt). And post-COVID, the gap widened markedly, with CBRL SSSG lagging the FSR average, by ~10 ppt."

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Apollo Hospitals (APLH:IN) PT Raised to INR8,500 at ICICI Securities