Oppenheimer Reiterates Outperform on Jack in the Box (JACK) Ahead of 4Q Release
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Oppenheimer reiterated an Outperform rating and $115.00 price target on Jack In The Box (NASDAQ: JACK) ahead of the company's 4Q earnings report.
Analyst Brian Bittner commented, "With a scarcity for great ideas, JACK represents an attractive setup and one of our top picks. Our deep-dive analysis drives high confidence in our estimates which implies the stock lingers at a 25% discount to peers. This underappreciates the model's transformation and its top-notch capital returns. Our work supports: 1) a "solid" upcoming 4Q16 report (11/21), 2) a '17 EPS outlook that should bracket consensus with weaponry for upside, and 3) >$400M of EBITDA next year is achievable without above-average sales. Reiterate $115 price target."
Shares of Jack In The Box closed at $100.20 yesterday.
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