Jack in the Box sales momentum heading in the right direction; shares +5%

Cowen analyst Andrew Charles says Jack in the Box (NASDAQ:JACK) delivered on high Q3 investor expectations with its top-line and EBITDA beat, aided by favorable G&A.

“The company is participating in the QSR industry sales improvement, exiting 3Q with 10% comps and encouragingly citing momentum has persisted into 4Q QTD.”

Charles and team don’t expect to hear the company’s vision/plan until Q420 or Q1 of 21 results.

Cowen has a Market Perform rating on JACK and price target of $89.

Shares of JACK are now up 4.79% premarket after the comp sales beat and dividend resurrection.


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