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Fly News Breaks for November 29, 2018
CBRL
Nov 29, 2018 | 08:11 EDT
Argus analyst John Staszak upgraded Cracker Barrel to Buy from Hold with a price target of $210. The analyst cites the company's strong Q1 earnings beat and believes that it is on track for continued growth in comps and margins in FY19. Staszak also expects Cracker Barrel to benefit from lower gas prices given that many of its locations are near interstate highways. The analyst raises his FY19 EPS view to $9.35 from $9.30 and believes that the stock can grow its multiple from the current 19.4-times forward earnings valuation.
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