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Fly News Breaks for September 19, 2018
CBRL
Sep 19, 2018 | 07:52 EDT
Maxim analyst Stephen Anderson lowered his price target on Cracker Barrel to $175 after its Q4 earnings miss and a decline in same store sales. The analyst also lowered his Q1 EPS target to $1.98 from $2.35, reflecting " sluggish traffic, higher depreciation expense, and residual food cost inflation", along with a lower view of FY19 EPS at $9.39 vs. $9.99 prior forecast. Anderson is keeping his Buy rating on Cracker Barrel however, stating that he still anticipates FY20 EPS growth of about 10% as more cost reductions are realized.
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