Jack in the Box downgraded on competition with McDonald's
Jack in the Box Inc. was downgraded to neutral from buy at BTIG based on the competition the restaurant chain faces from McDonald's Corp. . "While Jack in the Box has announced its own redesigned value platform to more effectively compete, we believe the size and scale of the McDonald's system and its advertising will win out," wrote BTIG analysts led by Peter Saleh. McDonald's new Dollar Menu, with $1, $2 and $3 price points is expected to snap up market share. Jack in the Box shares are down 1.5% in Tuesday trading, and down 13.4% for the past year. McDonald's shares are up 42% for the last 12 months, outpacing the S&P 500 index , which is up 20.1% for the period.
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