Cracker Barrel’s Price Target Lifted at Miller Tabak (CBRL)

Restaurant chain operator Cracker Barrel Old Country Store, Inc. (CBRL) on Wednesday caught some continued bullish sentiment from analysts at Miller Tabak.

The firm maintained its “Buy” rating on CBRL and raised its price target from $62 to $76. That new target suggests a 32% upside to the stock’s Tuesday closing price of $57.38.

Following CBRL’s better-than-expected earnings report on Tuesday, a Miller Tabak analyst commented, “Management, in our view, made more significant strides in making its cost structure more efficient.”

Cracker Barrel shares were unchanged in premarket trading Wednesday.

The Bottom Line
Shares of Cracker Barrel (CBRL) have a 2.79% dividend yield, based on last night’s closing stock price of $57.38. The stock has technical support in the $53-$55 price area. The shares are trading at all-time highs.

Cracker Barrel Old Country Store, Inc. (CBRL) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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