Fly News Breaks for August 9, 2019
Aug 9, 2019 | 07:19 EDT
Wedbush analyst Nick Setyan upgraded Jack in the Box to Outperform from Neutral and raised his price target for the shares to $105 from $75. Setyan also added Jack in the Box to the firm's Best Ideas List. In a research note to investors, Setyan says that in light of current same-store sales growth and margin trends, it expects investors to reassess management's fiscal 2022 EBITDA and free cash flow targets of $300M and $175M, respectively, as "realistic," which could ultimately result in a higher valuation.
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