Jack in the Box price target raised to $92 from $82 at Wedbush

Wedbush raised the firm’s price target on Jack in the Box (JACK) to $92 from $82 and keeps a Neutral rating on the shares. The firm notes Q1 EPS came in above expectations on better-than-expected JIB same-store sales growth and UL margin. Quarter-to-date commentary also indicates continued momentum, Wedbush says. The firm believe Jack in the Box’s current valuation appropriately discounts the probability of management successfully integrating the Del Taco (TACO) acquisition, achieving sustained same-store sales growth at both brands, improving the margin trajectories of each brand, and driving meaningful unit growth acceleration.