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UPDATE: Miller Tabak Raises PT on Cracker Barrel Due to Less Downside Risk

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In a report published Monday, Miller Tabak analyst Stephen Anderson maintained a Hold rating on Cracker Barrel (NASDAQ: 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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