PLAY → $20.00 by Oct 26, 2026.

At CBRL's nadir, the equity value (mkt cap) was worth <$700MM with debt+leases at 5x depressed EBITDA. Revenue growth is still negative, yet the mkt cap has surged to $1.2B. This was before the incompetent CEO was fired. What happened? Operating income margin recovered significantly as management took steps to manage costs better. CBRL traded as low as 7x EV/EBITDA, now 10x. Right now, PLAY's equity value is <$400mm and debt+leases is 5.5x depressed EBITDA. Revenue growth was never as …