Jack in the Box price target lowered to $17 from $20 at UBS

UBS analyst Dennis Geiger lowered the firm’s price target on Jack in the Box (JACK) to $17 from $20 and keeps a Neutral rating on the shares. UBS expects still challenged same-store-sales at the core Jack in the Box brand for Q4, with margins and earnings likely pressured, the analyst tells investors in a research note. Key catalysts to support an improved valuation gap to peers include greater visibility into sales initiatives and improved traffic trends in a difficult macro, profitability improvement, and debt deleverage and free cash flow generation.