RBC Capital raised the firm’s price target on Jack in the Box to $110 from $96 and keeps an Outperform rating on the shares. The firm is raising its assumed EBITDA multiple to 11.5-times from 10.5-times to reflect the faster-than-expected refranchising of Del Taco company-owned restaurants, the JitB development outlook and the company’s more visible path to margin expansion, the analyst tells investors in a research note.
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