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UPDATE: Bank of America Merrill Lynch Reiterates Underperform Rating, Raises PT for Jack in the Box

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In a report published earlier today, Bank of America Merrill Lynch reiterated its Underperform rating for Jack in the Box, Inc. (NASDAQ: JACK) and raised its price target from $18.00 to $21.00.

BofA Merrill Lynch went on to say “We find Jack in the Box's strategic direction, including a greater emphasis on refranchising, appealing. However, the benefits of converting to a more highly franchised system have been elusive. The refranchising program is in its final stages and JACK shares have to be evaluated on operating EPS, in our view. On that basis, JACK shares appear expensive.”

Jack in the Box, Inc. closed yesterday at $23.56.

Latest Ratings for JACK

DateFirmActionFromTo
Apr 2016Cowen & CompanyInitiates Coverage onOutperform
Apr 2016Morgan StanleyUpgradesEqual-weightOverweight
Apr 2016Evercore ISI GroupInitiates Coverage onHold

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View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Reiteration Analyst Ratings

 

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