Shares of Jack in the Box, Shake Shack, Trading Lower After Stifel Cuts Price Targets

   By Stephen Nakrosis

Shares of several national restaurant chains are trading lower in Wednesday's market, amid a broader stock selloff and concerns over the impact of the spreading coronavirus.

Earlier Wednesday, Stifel said it was its lowering estimates for Jack in the Box Inc. and Shake Shack Inc., "given their concentration in hotspot areas." Jack in the Box was maintained at buy by Stifel, but its price target was cut to $70 a share from $100. Shake Shack was maintained at hold by Stifel, but its price target was cut to $45 per share from $60.

At 3:43 p.m. EDT, Jack in the Box shares were trading 17.34% lower at $46.75. Shares of Shake Shack had fallen 14.17% to trade at $41.61.

Shares of McDonald's Corp. were trading 5.74% lower at $188.39. Wendy's Co. was down 9.69% at $17.89. Dunkin' Brands Group Inc. shares were trading 6.69% lower at $64.17. Starbucks Corp. shares were 8.55% lower at $68.43, and the stock of Yum! Brands Inc. was down 7.18% at $80.60.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

March 11, 2020 16:15 ET (20:15 GMT)

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