Standpoint Research Downgrades Cracker Barrel (CBRL) to Hold; Shares Now Fairly Valued

Standpoint Research downgraded Cracker Barrel (NASDAQ: CBRL) from Buy to Hold.

Standpoint analyst, Ronnie Moas, said, "We are downgrading CBRL even though the shares remain 10% below our price target for next year. Concerns with where the stock market will go in the near term, along with the recent absolute and relative move in the CBRL share price has led me to make this decision to lock in the gain and watch this name from the sidelines. CBRL is now within 10% of its all-time high from Q4, 2010."

"CBRL shares have moved 35% since October 1 and beat the S&P by 2000 bps (during the last 90 days). The shares are only up 9% for us since the March recommendation, but this was in a down market. CBRL shares are fairly valued at 13X earnings. I am disregarding recent noise on the shareholder activist front that may be driving the shares. The stock may have run its course in the near-term on an absolute and relative basis."

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 $50.57 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• Ross Stores, Inc. (ROST) PT Raised to $240 at Bernstein SocGen Group
• Morgan Stanley course-corrects their semiconductor equipment outlook on demand