bingoclashforandroid| Changes in U.S. stocks | CB Rural Store plunged nearly 16%, cutting dividends by more than 80%

American restaurant company CB Country Store (CBRLbingoclashforandroid.US) Heavy volume fell sharply, falling nearly 16% to US$48.18 in intraday trading, the lowest since March 2020. In the news, the company cut its dividend by more than 80% as part of its plan to increase investment to revitalize the chain.

Bank of America believes the CB Rural store dividend cut was somewhat unexpected, but the cut exceeded expectations. Maintain an "underweight" rating on CB Rural Store because it is expected that the company's valuation will continue to be compressed as demand resistance persists, giving a target price of $50.