Jack In The Box (JACK) Price Target Raised to $80 at KeyBanc

KeyBanc maintained a Buy rating on Jack In The Box (NASDAQ: JACK) and raised its price target to $80.00 (from $68.00).

Analyst Christopher O'Cull said, "We reiterate our BUY rating on JACK and increase our PT from $68 to $80 following recent meetings with the Qdoba management team as we came away increasingly confident in the Qdoba turnaround plan and outlook."

"Though mgmt. has stated plans to keep Qdoba, should JACK’s valuation not adequately reflect its warranted premium, we would expect mgmt. to reconsider monetizing Qdoba’s value. While a full spin-off may be challenging given the cost/ difficultly of disintegration (i.e., purchasing, accounting, IT, real estate, human resources), we view selling a minority stake (<20%) of Qdoba to shareholders via an IPO as feasible and could still help to remove any conglomerate discount reflected in JACK’s stock price," he added.

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 $65.73 yesterday.

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