Truist analyst Jake Bartlett raised the firm’s price target on Jack in the Box to $97 from $95 and keeps a Buy rating on the shares. The company’s Investor Day left the firm with greater confidence in its accelerating development plan, continued confidence in sales drivers, and the impression that margin expansion targets would take time to unfold, though its capex may remain elevated given its long-term development plan to enter new markets, the analyst tells investors in a research note.
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