Wells Fargo maintains Overweight on Cracker Barrel Old, raises target to $60

0 min read | Published on 22 Jul 2026, 03:27 AM |Updated on 23 Jul 2026, 03:58 AM

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Radhika SScanX News Team

Key Highlights

Wells Fargo analyst Anthony Trainor maintained an Overweight rating on Cracker Barrel Old (NASDAQ: CBRL) and raised the price target to $60 from $50. The adjustment signals a positive outlook on the company's valuation and fundamentals within the restaurant and retail sector.

*this image is generated using AI for illustrative purposes only.

Wells Fargo analyst Anthony Trainor has maintained an Overweight rating on Cracker Barrel Old (NASDAQ: CBRL) while adjusting the stock's price target. The firm raised the price objective to $60, an increase from the previous target of $50.

The revised target reflects a positive outlook on the company's valuation and fundamentals. Cracker Barrel Old operates in the restaurant and retail sector.

Rating and Price Target Details

The following table outlines the updated analyst metrics:

Metric	Value
Rating	Overweight
New Price Target	$60
Previous Price Target	$50

Disclaimer: This article is AI-generated using data from ViewTrade. ScanX is not liable for any inaccuracies.

What specific operational improvements are expected to drive Cracker Barrel's fundamentals to meet the new $60 price target?

How might Cracker Barrel's retail segment performance influence the stock's valuation compared to its restaurant operations?

What are the potential risks to the revised price target given current consumer spending trends in the casual dining sector?

Cracker Barrel exceeds FY26 revenue and EBITDA outlook

1 min read | Published on 21 Jul 2026, 01:53 AM |Updated on 21 Jul 2026, 02:28 AM

Reviewed by

Naman SScanX News Team

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Key Highlights

Cracker Barrel Old Country Store Inc completed a $77 million sale-leaseback and sold Maple Street Biscuit Company assets, closing remaining locations. The firm expects to exceed FY26 revenue and adjusted EBITDA guidance despite a 2.5% drop in comparable restaurant sales.

*this image is generated using AI for illustrative purposes only.

Cracker Barrel Old Country Store Inc has completed a sale-leaseback transaction for 26 Company-owned Cracker Barrel store locations, generating net proceeds of approximately $77 million. The company intends to use the proceeds for debt reduction. Simultaneously, Cracker Barrel sold certain assets related to its Maple Street Biscuit Company (MSBC) business, including the MSBC trademark and assets used in 35 MSBC locations, to Biscuit Belly, LLC. Following this sale, the company announced the closure of the remaining 16 MSBC locations.

As a result of the divestiture, the company expects to recognize non-cash charges of approximately $37 million to $39 million during the fourth quarter of fiscal 2026. Additionally, it anticipates cash charges of approximately $6 million to $8 million associated with exiting the business, with some costs incurred in the fourth quarter of fiscal 2026 and the remainder in fiscal 2027. The divestiture is expected to be accretive to adjusted EBITDA beginning in fiscal 2027.

Cracker Barrel reported comparable store restaurant sales decreased approximately 2.5% and comparable store retail sales increased approximately 0.5% over the first 11 weeks of its fiscal fourth quarter. Despite the sales decline, the company now expects to achieve or exceed the high end of its revenue range and surpass its adjusted EBITDA outlook for fiscal 2026, which ends July 31, 2026. Previously, on June 9, 2026, the company had anticipated total revenue of $3.27 billion to $3.30 billion and adjusted EBITDA of $120 million to $125 million.

"Our sale-leaseback transaction will allow us to opportunistically reduce debt while monetizing a portion of our owned real estate at an attractive valuation. Divesting Maple Street sharpens our focus on the core Cracker Barrel brand and is expected to improve profitability," said Julie Masino, president and CEO of Cracker Barrel.