Barron’s looked for restaurants that appear poised to deliver earnings growth this year but that haven’t been bid up to unreasonable levels already.
Shares of Cracker Barrel Old Country Store (NASDAQ: CBRL) dropped 11.2% in 2020, according to data provided by S&P Global Market Intelligence, as restaurants across the country dealt with the pandemic. It's amazing the performance wasn't worse, and as we begin 2021 there seems to be a light at the end of the tunnel for restaurant stocks. You can see below how swift the pandemic hit Cracker Barrel's financial performance.
Wells Fargo says that while the winter will be tough, Covid-19 has created pent-up demand and forced chains to change their tactics in beneficial ways.