In a report published Monday, Miller Tabak analyst Stephen Anderson maintained a Hold rating on Cracker Barrel CBRL and raised the price target from $92 to $98.
In the report, Miller Tabak accredited the price target increase to, “a strong “beat-and-raise” April quarter that defied concerns about a macro- and weather related slowdown early in the quarter. CBRL still is generating best-in-class comps and positive growth in traffic thanks to its effective communication of its revamped value strategy, and we expect sales momentum to continue.”
Cracker Barrel closed Monday at $95.28.
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