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Fly News Breaks for September 6, 2018
DENN, CBRL
Sep 6, 2018 | 09:28 EDT
SunTrust analyst Jake Bartlett lowered his price target on Cracker Barrel (CBRL) to $146 and kept his Hold rating, saying the company's upcoming Q4 results have some downside risks of missed comps and its FY19 guidance could be "disappointing". The analyst cites "weakness in family dining" same-store sales, along with competition in the value-oriented space potentially leading to margin contraction next year, noting that Cracker Barrel's competitor Denny's (DENN) had to offer a value promotion to bring its comps to positive in June and July.
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