Jack in the Box price target lowered to $75 from $98 at Oppenheimer

Oppenheimer analyst Brian Bittner lowered the firm’s price target on Jack in the Box to $75 from $98 and keeps an Outperform rating on the shares. The firm says industry headwinds that are well-understood have caused Jack in the Box’s same-store sales to trend negative in Q2 and Q3-to-date. Management’s 2024 guidance for flat to low-singles assumes same-store sales accelerate in the second half of 2024 as value/promotions are deployed, comparisons ease, and CA performs above the system.