Wells Fargo Resumes Jack In The Box (JACK) at Market Perform

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Wells Fargo resumes coverage on Jack In The Box (NASDAQ: JACK) with a Market Perform and $29-$31 valuation range.

"We expect to see limited multiple expansion in coming quarters based on (1) our expectation for decelerating rate of SSS growth at both Jack in the Box and Qdoba and (2) our view that current valuation already reflects JACK’s guidance for significant margin expansion and EPS growth in FY2013 and FY2014, related to the company’s refranchising strategy and structural cost control initiatives."

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 $28.91 yesterday, with a 52 week range of $20.53-$29.47.

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