Wunderlich Securities Increases Jack In The Box Inc. Price Target

On Tuesday, analysts at Wunderlich Securities increased the price target on shares of Jack In The Box Inc. JACK from $77 to $88 and reiterated the Buy rating.

Robert Derrington stated, “we believe its fast-growing Qdoba Mexican Grill brand is on the cusp of rolling out new food news which we believe will add further momentum to its already strong SSS trends. We project that new product news, along with its upcoming remodel program and re-started new store development will push Qdoba's revenue up ~12% in FY15, 17% in FY16 and 19-20% more in FY17. Combined with Jack's already strong sales and margin trends, we believe our current projections could again likely prove conservative.”

Shares of Jack In The Box recently traded at $74.52 unchanged Tuesday morning.