Miller Tabak downgraded Cracker Barrel Old Country Store CBRL from Buy to Hold and maintained an $81.00 price target.
Miller Tabak analyst Stephen Anderson noted, "We downgrade Cracker Barrel Old Country Store (CBRL) to Hold (from Buy) this morning as the stock neared our $81 price target yesterday. … [I]n light of the 25% year-to-date rally (and the 43% y/y gain) in CBRL shares, we now think CBRL's current share price reflects continued above-peer comp growth, margin expansion, and reduced interest costs that we estimate will lift EPS in FY14 and beyond."
Cracker Barrel Old Country Store closed at $79.97 on Monday.
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