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Fly News Breaks for May 17, 2017
JACK
May 17, 2017 | 08:07 EDT
After Jack in the Box announced that it had hired an adviser to evaluate alternatives for Qdoba, SunTrust analyst Jake Bartlett says the news "more than outweighs" the 3.5% decline in its fiscal 2017 EPS guidance. The analyst thinks that such a deal would enable the company's management to concentrate more on its Jack in the Box restaurants and enable the company to increase its leverage. As a result, he thinks that the company's multiple would rise. He keeps a $116 price target and a Buy rating on the shares.
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