Truist lowered the firm’s price target on Jack in the Box to $70 from $83 and keeps a Buy rating on the shares. The company’s Q3 was mixed with a SSS miss and an adjusted EBITDA beat, but while the results are being pressured by dynamics facing fast food peers, a slight acceleration in SSS in the past month and plans to drive sales at both ends of its bar-bell menu give the firm more confidence that sales will gradually improve, the analyst tells investors in a research note.
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