Restaurant and retail concept operator Cracker Barrel Old
Country Store, Inc. (
) saw its rating and price target boosted on Wednesday by analysts
The firm raised its rating on CBRL to "Buy," and set a $59 price
target on the stock, which had closed at $47.80 on Tuesday.
A KeyBanc analyst commented, "CBRL put up another impressive
quarter in 3Q10, which not only produced positive SSS in both the
restaurant and retail divisions, but also represented the fifth
consecutive quarter of operating margin improvement (up 40 basis
points to 5.5% from 5.1% in 3Q09). Additionally, we expect many of
the improved consumer trends that aided CBRL in 3Q10 along with
multiple other catalysts to continue to drive the brand's
outperformance in the coming quarters."
Cracker Barrel shares were mostly flat in premarket trading
The Bottom Line
Shares of CBRL have a dividend yield of 1.67%, based on last
night's closing stock price of $47.80. The stock has technical
support in the $45-$46 price area. The stock is currently trading
near all-time highs of $53 a share. We would remain on the
sidelines for now, but we will be watching the stock closely.
Cracker Barrel Old Country Store, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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