UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Jack in the Box on Raised Estimates
In a report published Friday, Jefferies reiterated its Buy rating on Jack in the Box (NASDAQ: JACK), and raised its price target from $32.00 to $37.00.
Jefferies noted, “We see meaningful upside to Street EPS and believe the valuation has plenty of room to expand from current 7.3x C13 & 6.5x F14 (Sep) EV/EBITDA. This is well below peers at 8.5x-12x & 8-11x, respectively. F1Q EPS (+115%) showed strong margin gains & demonstrated JACK's continued success executing its restructuring initiatives. Guide for F13 (+30%) & F14 (+29%) above Street & we believe is conservative. PT to $37.”
Jack in the Box closed on Thursday at $31.50.
Latest Ratings for JACK
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.