Jack in the Box price target lowered to $70 from $87 at Loop Capital

Loop Capital analyst Alton Stump lowered the firm’s price target on Jack in the Box to $70 from $87 and keeps a Buy rating on the shares. The firm’s latest conversions with U.S. Jack in the Box franchisees suggest that same-store sales decelerated from flat to down 50 bps during the first seven weeks of Q4 to a 1.0-1.5% decline over the last five weeks of the quarter, which implies same-store sales for Q4 declining 0.5%-1.0% – in line with Loop estimate for a 1.0% decline and consensus at down 0.6%, the analyst tells investors in a research note.