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In a report published Wednesday, Wunderlich Securities analyst Robert M. Derrington reiterated a Buy rating and $100.00 price target on
Jack in the Box Inc.JACK.
In the report, Wunderlich Securities noted, "Last night, Jack in the Box (JACK) posted much better than expected fiscal 1Q15 (Jan.) results including EPS from ops rising 24% to $0.93 vs. our $0.85/Street $0.87. The results reflect much better than expected system-SSS growth (JIB up 4.4%; Qdoba 14.0%), restaurant and operating margins, and a lower than projected share count. Supported by those results, management lifted its initial FY15 EPS guidance to $2.85-$2.97 (from $2.73 to $2.88) incl. JIB Co. SSS to 3.5%-4.5% (from 1.5%-2.5%), Qdoba Co. SSS to 7.5%-9.5% (from 6%-8%). Based on these much better than projected early FY15 results, both our $100 PT and prior EPS estimates are under review, with a positive bias."
Jack in the Box Inc. closed on Tuesday at $88.16.
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