Jack In The Box (JACK) PT Lifted to $105 at Oppenheimer as Thesis Strengthens Following Results
Oppenheimer analyst Brian Bittner raised his price target on Jack In The Box (NASDAQ: JACK) to $105.00 (from $97.00), saying strong results after the close strengthens their Outperform thesis on the stock.
Bittner said the Sttreet's earnings estimates through '18 must begin playing catch-up, comps have just begun an attractive
acceleration cycle, capital returns will soon flex (additional leverage coming) and shares remain undervalued against "at least" $400M EBITDA.
In addition, 3Q comp were better than feared, EPS posted a large beat and '16 guidance was lifted (yet remains conservative).
The firm raised F16E EPS to $3.74 from $3.59 and left F17E unchanged at $4.62.
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Shares of Jack In The Box closed at $87.73 yesterday.