Jack in the Box falls premarket as brokerages cut PT after Q4 revenue miss

Jack In The Box

21/11/2024 13:53

**  Fast-food restaurant chain Jack in the Box's  JACK.O 
shares fall 4.06% premarket to $43.75
    ** RBC says the company's Q424 and initial FY25 revenue
guidance were below expectations but thinks the risk/reward
continues to be attractive with stock trading near post-COVID
lows; cuts PT by 7% to $65, reiterates "outperform" rating
    ** "Less positively, top-line growth is expected to be
limited next year and combined with elevated CA wages continues
to weigh on restaurant level margins," RBC says
    ** Jefferies says the company's guidance was "prudently 
cautious" as external headwinds remain; cuts PT by 8% to $46 and
reiterates "hold" rating
    ** Deutsche Bank also cut PT for JACK by 9% to $46 and Piper
Sandler by 7.5% to $49 
    ** Of 22 analysts that cover JACK, seven rate it "strong
buy" or "buy",​ 14 "hold" and one "sell"
    ** Up to last session's close, shares were down 44.1%​ YTD
    
  

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))