UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Jack in the Box on Positive Outlook

In a report published Thursday, Jefferies analyst Alexander Slagle reiterated a Buy rating on

, and raised the price target from $71.00 to $80.00. In the report, Jefferies noted, “We feel good about the sustainability of top-line momentum at both brands, and have been impressed by the team's ability to manage cost headwinds & drive margin gains. F1Q & 15 guides are solid, with much stronger than expected Qdoba SSS as the new menu implementation is driving double digit SSS so far in F1Q. We'd be buyers of the stock as we see above-trend SSS & EPS growth continuing & a valuation that has room to expand. PT to $80 (from $71).” Jack in the Box closed on Wednesday at $74.92.