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Fly News Breaks for May 9, 2016
JACK
May 9, 2016 | 12:00 EDT
Oppenheimer analyst Brian Bittner notes that investors fear that Jack in the Box may cut guidance along with its upcoming earnings report, due on May 11, but he believes "multiple second-half tailwinds," including buybacks, an extra week and lapping beverage machine costs, make the company's current outlook appear achievable. Also, the refranchising of the flagship brand "could segue into a Qdoba separation if valuation remains heavily discounted," Bittner contends. The analyst keeps an Outperform rating and $86 price target on the stock.
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