Cracker Barrel jumps on upbeat annual forecasts
BUZZ-Cracker Barrel jumps on upbeat annual forecasts Updates
** Shares of casual dining chain Cracker Barrel Old Country Store CBRL.O up as much as 34.2% to a near nine-month high of $48.72
** Co touches highs since September 2025, when social media backlash around the restaurant chain's short-lived decision to change its decades-old logo hurt customer traffic and prompted it to scrap store remodel plans
** Co raised its annual revenue and core profit forecast and posted surprise Q3 profit after market close on Tuesday
** Brokerage Wells Fargo upgrades stock to "Overweight" from "equal-weight", raises PT to $50 from $35
** "Business is on firmer footing & turnaround is regaining ground," brokerage says
** Adds responses to last summer's challenges, like launching Campfire meals, are working
** Two of 10 brokerages rate the stock "buy" or higher, five "hold" and three "sell" or lower; their median PT is $33
** CBRL had a short interest of 27.2% - data compiled by LSEG
** As of last close, stock up 43% YTD
(Reporting by Koyena Das from Bengaluru)