Jefferies Upgrades Jack In The Box (JACK) to Buy

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Jefferies upgraded Jack In The Box (NASDAQ: JACK) from Hold to Buy with a price target of $31.00 (from $24.00) in assumed coverage.

The firm comments, "We have visibility that top-line drivers can continue to deliver SSS outperformance & with margin expansion from refranchising & Qdoba acquisitions, JACK should drive 12/13 EPS upside. Beyond '13, JACK looks even more interesting as initiatives transform the business model & shift focus to Qdoba, which we think can be 50% of total EBITDA growth in 3 yrs & is not reflected in current ests/valuation."

For an analyst ratings summary and ratings history on Jack In The Box click here. For more ratings news on Jack In The Box click here.

Shares of Jack In The Box closed at $25.25 yesterday, with a 52 week range of $18.25-$26.06.

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