BUZZ-Cracker Barrel up after Truist upgrades to 'buy' following quarterly results

Reuters2025-03-10

BUZZ-Cracker Barrel up after Truist upgrades to 'buy' following quarterly results

** Shares of casual dining chain Cracker Barrel Old Country Store CBRL.O up 1.5% at $43.45 premarket

** Truist Securities upgrades stock to "buy" from "hold", raises PT by $4 to $55, citing strong Q2 results

** Co reported Q2 results above estimates, raised low-end of annual revenue forecast on Thursday, sending its shares up 7.6% at close

** Brokerage says CBRL is early in its turn around, but recent two solid quarters give confidence in sustained improvement

** Says co's newer menu items, improved service have helped it increase prices while driving traffic

** Notes adverse weather pressure expected in Q3 is improving, says tariff risk appears manageable despite exposure to China, helped by finding other sources

** Two of ten brokerages rate the stock "buy" or higher, five "hold" and three "sell" or lower; with a median PT of $48

** CBRL fell 31.4% in 2024, and down 19% YTD as of last close

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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