Jack in the Box price target lowered to $19 from $22 at Truist

Truist lowered the firm’s price target on Jack in the Box (JACK) to $19 from $22 and keeps a Hold rating on the shares after its Q3 EBITDA miss and reduced guidance. The company is facing significant macro pressure from its lower-income and Hispanic customers, the analyst tells investors in a research note. While Jack in the Box is pivoting toward greater value, with a boost from incremental advertising, the firm expects comps to remain pressured in the near-term due to macro and competitive headwinds, Truist added.