UPDATE: Guggenheim Starts Jack In The Box (JACK) at Buy
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Guggenheim analyst Gregory Francfort initiates coverage on Jack In The Box (NASDAQ: JACK) with a Buy rating and a price target of $135.00.
The analyst comments "Our Buy rating is premised on a long-term alignment of franchisees and franchisors and the renewed potential of unit growth following years of stagnation, supported by improved franchisee profitability and new management. The stock is also positioned well for U.S. inflation worries (heavy real estate ownership where revenues are variable but expenses are fixed)."
Shares of Jack In The Box closed at $109.54 yesterday.
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