Carrols Restaurant gains on Craig-Hallum's upgrade to "buy" rating

Carrols Restaurant

07/03/2023 17:16

** Shares of Carrols Restaurant Group Inc  TAST.O  rise as
much as 10% to more than six-month high of $2.37
    ** Brokerage Craig-Hallum upgrades co to "buy" from "hold"
and raises price target to $4 from $2.50
    ** Brokerage says, "Carrols delivered strong Q4 results with
an impressive profitability beat despite a highly inflationary
cost environment"
    ** Carrols last month reported a narrow loss in Q4 and a
7.7% rise in quarterly sales
    ** Craig-Hallum says moderating labor and food costs will
contribute to margin expansion in FY23
    ** Stock has an average rating of "buy" among five analysts;
their median PT is $3 - Refinitiv
    ** Shares last up 4.5%
    ** TAST has risen 4.7% in the past 12 months

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))