Wunderlich Comments On Jack In The Box Following 'Strong' Q3 Earnings

Jack In The Box JACK on Wednesday posted a beat on both the top and bottom-line for its third quarter earnings.

In addition to the beat, the company also raised its fiscal-year 2014 EPS guidance from $2.25-22.35 to $2.38-2.45 and declared a $0.20 per share quarterly dividend.

In light of the above items, as well as the stock's current valuation, Wunderlich Securities has reiterated its Buy rating and $70 price target.

The firm commented, "We continue to rate JACK as Buy, reflecting our confidence in management's operating plan, its strong operating fundamentals, better than most peer EPS growth, and its relatively unique defensive franchise business model."

Following the company's third quarter earnings, the stock has rallied as much as 11 percent in Thursday's pre-market session.