02:49 PM EDT, 06/03/2025 (MT Newswires) -- Cracker Barrel Old Country Store's ( CBRL ) fiscal Q3 results are expected to have been pressured by weather conditions and other headwinds, yet the company's momentum is seen to have improved heading into Q4, UBS said late Monday in an earnings preview note.

The restaurant and gift stores chain is expected to report fiscal Q3 results on Thursday.

UBS said the company's fiscal Q4 same-store sales have improved quarter-to-date due to improving industry trends and traction on the company's new initiatives. UBS also said its focus remains on the sales trends for fiscal Q4 and any updates on the company's strategic initiatives and key traffic drivers across menu updates, marketing and value, and remodeling.

UBS raised its price target on the company to $60 from $48, citing improving industry valuations and sales trends with early progress against turnaround plans. However, the brokerage believes "visibility into significant turnaround progress is limited given macro pressures."

UBS maintained a neutral rating on the company.

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