Jack In The Box (JACK) PT Lowered to $47 at Citi

Citi analyst Jon Tower lowered the price target on Jack In The Box (NASDAQ: JACK) to $47.00 (from $53.00) while maintaining a Neutral rating.

The analyst comments "Performance (down ~50% since Jan ‘24 vs other LSRs down ~12%) and valuation (sub 10x P/E) suggest investors are bracing for sharply negative estimate revisions. This could set the stage for a better than feared quarter/some relief rally; however, we see little room for follow thru when investors likely remain skeptical of the unit growth pitch and JACK remains in the crosshairs of key industry concerns (immigration, beef prices, under-scaled/challenger brands in a more value-centric environment)."

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