Companies in the Services sector have received a lot of coverage today as analysts weigh in on Cracker Barrel (CBRL) and Lowe’s (LOW).
Cracker Barrel (CBRL)
In a report released today, Stephen Anderson from Maxim Group downgraded Cracker Barrel to Hold, with a price target of $175. The company’s shares closed yesterday at $174.85, close to its 52-week high of $175.03.
Anderson wrote:
“We downgrade Cracker Barrel Old Country Store (CBRL) to Hold, from Buy as the share price reached our $175 price target yesterday.”
According to TipRanks.com, Anderson is a top 100 analyst with an average return of 13.5% and a 71.4% success rate. Anderson covers the Services sector, focusing on stocks such as Dave & Busters Entertainment, Good Times Restaurants Inc, and Dine Brands Global Inc.
Currently, the analyst consensus on Cracker Barrel is a Moderate Buy with an average price target of $159.
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Lowe’s (LOW)
Oppenheimer analyst Brian Nagel maintained a Buy rating on Lowe’s today and set a price target of $125. The company’s shares closed yesterday at $91.35.
Nagel wrote:
“As we dig through the Q3:18 (Oct.) results and updated FY18 (Jan. 2019) guidance that Outperform-rated Lowe’s (LOW) reported today, we come away further convinced in our positive call on the shares. Underlying trends in Q3 proved “OK,” with domestic comp sales of +2% (vs. Street expectations for upward of +3%) and pro forma EPS of $1.04 (above a consensus $0.98E). More important, however, under the guidance of new CEO Marvin Ellison, LOW is now further streamlining its operations by exiting Mexico and other, non-core domestic operations and is seemingly more forthcoming regarding conversion-related challenges in its domestic units. Current broad-based macro worries are weighing meaningfully upon discretionary stocks. As the dust settles, we expect the market to look increasingly favorably upon prospects for LOW.”
According to TipRanks.com, Nagel is a 4-star analyst with an average return of 4.8% and a 56.2% success rate. Nagel covers the Services sector, focusing on stocks such as Weight Watchers International, Dick’s Sporting Goods, and Advance Auto Parts.
Lowe’s has an analyst consensus of Strong Buy, with a price target consensus of $120.68, representing a 32.1% upside. In a report issued on November 5, Wells Fargo also maintained a Buy rating on the stock with a $125 price target.
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