Wedbush Cuts Price Target as Jack in the Box's (JACK) EPS Misses Consensus
Wedbush maintained an Outperform rating on Jack In The Box (NASDAQ: JACK), and cut the price target to $90.00 (from $105.00), following the company's 1Q earnings report. EPS of $0.93 was below $1.03 consensus. FY16 adjusted EPS guidance was lowered to $3.50- 3.63 from $3.55-3.70, previously.
Analyst Nick Setyan commented, "Continue to believe drivers of SSS growth ahead of reset expectations at both brands exist, and combined with multiple cost levers and share buybacks, are poised to drive upside to FY16 EPS estimates."
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Shares of Jack In The Box closed at $64.48 yesterday.