Oppenheimer analyst Brian Bittner raised the firm’s price target on Jack in the Box to $96 from $85 and keeps an Outperform rating on the shares following the company’s Q1 business update. The company generated a very clean earnings beat and delivered impressive same-store-sales, margin and EBITDA upside. Importantly, management’s commentary implies healthy top-line momentum into Q2 2023, and its updated analysis suggests Jack in the Box’s 2023 financial outlook now tilts conservatively, Oppenheimer adds.
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