JACK - Jack in the Box gains after Deutsche Bank sees growth track through Del Taco

Jack in the Box (NASDAQ:JACK) tracks higher in early trading after Deutsche Bank upgrades the restaurant stock to a Buy rating from Hold. Analyst Brian Mullern: "While it is a very distant second to Taco Bell, it is second in an attractive QSR category nonetheless; and we note that stand alone TACO has previously communicated to investors a plan to achieve ~5% net unit growth in its Fiscal 2023, which we bring up only to make the point that its strategy is already similar to JACK in this very important way. While the share price reaction today was negative today (down ~4.1% upon close, and more than that earlier in the day), we like this deal for JACK and are supporters of both the financial and strategic decision, and we like the strategic angle in particular." Not everybody on Wall Street is raving about the deal. Morgan Stanley analyst John

For further details see:

Jack in the Box gains after Deutsche Bank sees growth track through Del Taco