Jack In The Box (JACK) PT Raised to $130 at Stifel
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Stifel analyst Chris O'Cull raised the price target on Jack In The Box (NASDAQ: JACK) to $130.00 (from $125.00) while maintaining a Buy rating.
The analyst commented, "We increased our F2Q SRS estimate to 18% (from 14%, Street 15%, F1Q21 was 12.5%) following a review of mobile location data. We attribute the strong comp performance to a combination of new product and LTO news, stimulus checks, and lapping pandemic-impacted weeks late in the quarter. The company also continues to make notable progress in preparing the system for unit expansion, which could lead to valuation upside if investors become convinced a meaningful level of growth will materialize. Management plans to provide an updated development outlook during its investor day in May/June. We raised our FY21 EPS estimate to $6.45 from $6.12 and increased our TP to $130."
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