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Fly News Breaks for May 17, 2018
CBRL
May 17, 2018 | 08:35 EDT
Maxim analyst Stephen Anderson raised his price target on Cracker Barrel to $170 citing his updated model with a "new base valuation year". The analyst also kept his Hold rating, stating that while he sees improvement in comps, he prefers to await for a pullback in the stock price. Anderson adds that margin pressure in food costs is also offsetting some of the SSS increase positives, but raises his FY19 EPS view to $9.94 from $9.86, expecting "continued sales improvement and a return to a benign food cost environment."
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