Sitting at double bottom support dating back to 2022, Jack in the Box (JACK) looks interesting.
According to analysts at RBC Capital, the pullback is an opportunity. The firm also assigned an outperform rating on the stock, with a price target of $75.
They argue that “1) new markets continue to perform well supporting [long-term] unit growth; 2) new menu items & digital innovation should drive an [same-store sales] inflection in 2H24 into 2025 and 3) valuation looks attractive at 22% below its 5-year average,” as noted by CNBC.
JACK is also technically oversold on RSI, MACD, and Williams’ %R.