Fly News Breaks for May 20, 2019
May 20, 2019 | 06:32 EDT
Stifel analyst Chris O'Cull upgraded Jack in the Box to Buy from Hold and raised his price target for the shares to $95 from $85. The stock's valuation will improve as investors gain confidence in the company's outlook, O'Cull tells investors in a research note. He believes Jack in the Box's long-term EBITDA and free cash flow guidance are achievable in light of the company's recent promotional changes and its decision to alter its capital plan. At current share levels, the risk/reward favors a long position, says the analyst.
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