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Fly News Breaks for June 5, 2019
CBRL
Jun 5, 2019 | 08:25 EDT
SunTrust analyst Jake Bartlett lowered his price target on Cracker Barrel to $161 and kept his Hold rating after its Q3 results. The analyst says that the company beat on earnings and revenues, with guidance for an increase in national TV advertising also leading him to increase his Q4 comps forecast to 2.5% from 2.0%, but he is concerned by the impact of trade tensions already starting to increase costs as well as margin uncertainty in Q4 coming from higher pork prices.
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