What 3 Analysts Think Of Jack In The Box's Q1 Print

Following Jack in the Box Inc. (NASDAQ: JACK) first quarter print on Tuesday, several analysts offered their opinion.

Shares traded recently at $93.92, up 6.5 percent.

Barclays: Déjà Vu, Again

In a report published Wednesday, Barclays analyst Jeffrey Bernstein said that Jack In The Box's portfolio continues to impress and is positioned for growth in both the quick-service restaurant and fast-casual space.

Bernstein also noted that the company's comp momentum is strong heading in to the second quarter, supporting an increase in fiscal 2015 earnings per share growth guidance, now at 16 percent to 21 percent year-over-year.

Shares are Equal Weight rated with a $90 price target.

Wunderlich: ‘Kicks Off 2015 In Style'

Robert Derrington of Wunderlich wrote that Jack In The Box's first quarter results demonstrated a "strong start" to 2015.

The analyst noted that the company's results reflected a "much better than expected" system same-store sales growth and both Jack In The Box and Qdoba, further supported by improved restaurant and operating margins and a lower than projected share count.

Derrington added that his confidence in management's strategy and strong operating fundamentals remains intact. The analyst also argued that the company's growth profile is better than most peers and its strong operating outperformance will continue.

Shares are Buy rated with a $100 price target which is "likely to be revised higher."

Related Link: 2 Of The Financial Blogosphere's Best Minds Discuss Jack In The Box, SolarCity & Priceline

Morgan Stanley: Bullish Tone Remains

John Glass of Morgan Stanley said that comp acceleration at Jack In The Box adds "another layer" to the bullish thesis while Qdoba showed "full benefits" of recent move to inclusive pricing.

Glass also commented that the company showed "impressive" momentum at both brands. The analyst added that Jack In The Box's upside is "most surprising" as breakfast and late-night remained the biggest drivers, similar to what was seen in the first quarter 2014.

Qdoba posted "very strong" comps along with a 290 basis point increase in restaurant margins, negating concerns that its new pricing strategy would pressure margins.

However, Glass noted that Jack In The Box first-quarter comps and second-quarter guidance of 5 percent to 7 percent imply a second half 2015 comp guidance of 3 percent (at the mid-point) as compares get more difficult. In addition, Qdoba's first-quarter comp and second-quarter guidance of 7 percent to 9 percent implies a 2015 comp of 6 percent, which would entail a slight deceleration on a two-year basis.

Shares are Equal-weight rated with an $86 price target.