Shares of Jack in the Box, Shake Shack, Trading Lower After Stifel Cuts Price Targets
March 11 2020 - 4:30PM
Dow Jones News
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)
Copyright (c) 2020 Dow Jones & Company, Inc.
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