- Cowen analyst Andrew M. Charles has downgraded Jack In The Box Inc JACK to Market Perform from Outperform and lowered the price target to $68 (17% upside) from $115.
- Andrew thinks the challenging quick-service restaurant industry sales backdrop and Jack's above-industry levels of pricing & inflation present headwinds for the company's development.
- Related: Jack In The Box Q2 Earnings Miss Estimates
- The analyst said he was concerned about Jack's negative same-store sales in the second half of 2022 due to proprietary survey data indicating lagging value perceptions compared to its peers.
- Price Action: JACK shares are trading lower by 2.80% at $58.32 on the last check Wednesday.
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