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UPDATE: KeyBanc Capital Markets Initiates Coverage of Jack in the Box with Buy Rating, $40 PT

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In a report published Friday, KeyBanc Capital Markets initiated coverage of Jack in the Box (NASDAQ: JACK) with a Buy rating and a $40.00 price target.

KeyBanc noted, “We believe the Company is on track to essentially double its operating EPS by FY14, a year earlier than management is targeting $2.00 per share. Shares have improved in recent weeks as Jack in the Box continues to demonstrate SRS and profit improvements, but we believe share appreciation will continue as G&A is right-sized to fit the highly-franchised business model, the re-franchising program comes to a completion and Qdoba's brand awareness builds.”

Jack in the Box closed yesterday at $27.62.

Latest Ratings for JACK

DateFirmActionFromTo
Feb 2015BarclaysMaintainsEqual-weight
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015WunderlichMaintainsBuy

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