Wunderlich Securities Reiterates Buy, Raises PT On Jack in the Box As New Foods Add To Ops Momentum

In a report published Thursday, Wunderlich Securities analyst Robert M. Derrington reiterated a Buy rating on

, and raised the price target from $100.00 to $110.00. In the report, Wunderlich Securities noted, "Jack in the Box (JACK) continues to raise the bar vs. its slower-growing QSR peers, aided by its robust pipeline of craveable new food and concept refinements for both its Jack and Qdoba brands. Following Qdoba's especially strong Q1 (Jan.) SSS of 14%, management recently debuted its new Quesomole dip, a spicy new Queso that can be customized with Bacon Jalapeno bits and Guacamole, adding support to its raised FY15E SSS of 7.5%-9.5%. Following its Jack in the Box (JIB) brand's above-trend Q1 SSS of 4.4%, SSS climbed to over 10% in early Q2 aided by the intro of its new Buttery Jack burger. Supported by craveable new products like these, its accelerating Q2 trends, and confidence in management's plan, we are lifting our target to $110 from $100 and reiterate our Buy rating." Jack in the Box Inc. closed on Wednesday at $94.44.