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Fly News Breaks for September 19, 2018
CBRL
Sep 19, 2018 | 09:10 EDT
SunTrust analyst Jake Bartlett lowered his price target on Cracker Barrel to $134 and kept his Hold rating after its Q4 earnings and comps miss, saying the stock is facing increased risk that is only partially offset by its 6.2% dividend yield. The analyst further states that while the company is taking steps to better compete in the current value-oriented environment with its Daily Delights offerings, the impact of those options should be gradual considering the "declining guest satisfaction metrics". Bartlett believes that Cracker Barrel's FY19 margin outlook may be too "aggressive" given its soft comps view for the year.
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