Jack in the Box (JACK): Raising PT To $115 - Oppenheimer
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Oppenheimer analyst, Brian Bittner, reiterated his Outperform rating on shares of Jack In The Box (NASDAQ: JACK) and raised his price target to $115 from $105 based on increased confidence in $400M+ EBITDA, an attractive operational setup, improving business structure and shrinking share count.
Following its credit amendment announcement on 9/22, JACK now has ~$600M of untapped debt capacity. The analyst believes that this, along with strong FCF ($125M+), upcoming refranchising proceeds and increased buybacks now shift the capital return story to full throttle.
Shares of Jack In The Box closed at $100.72 yesterday.
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