Jack in the Box price target lowered to $80 from $96 at Stifel

Stifel analyst Chris O’Cull lowered the firm’s price target on Jack in the Box to $80 from $96 and keeps a Hold rating on the shares following the company’s Q4 earnings release. The analyst’s updated projections reflect the anticipated headwinds from technology investments, JIB real estate sales, and higher SG&A expense in fiscal 2023. Overall, his full year 2023 earnings estimate fell to $5.50 from $6.45, relative to the company’s guided range of $5.25-$5.65.