04:31 PM EST, 11/15/2024 (MT Newswires) -- Jack in the Box (JACK) is unlikely to become an market darling until the fast food chain can deliver "an under-promise, over-deliver setup" for investors, Oppenheimer wrote in a research note emailed Friday.

The restaurant company is slated to serve up its fiscal 2025 financial outlook next week when it reports its fiscal Q4 2024 earnings and sales. The results are largely expected to be underwhelming, following a string of downward revisions to estimates over the past 12 months, while trailing sector peers.

The brokerage does not see near-term catalysts "required to pitch the stock currently and will continue to reassess [its] thesis into 2025," the analysts wrote.

Oppenheimer cut price target for Jack in the Box shares to $60 from $70, but kept outperform rating.

"While valuation does screen attractively, healthier fundamentals, accelerating unit growth and a bottoming in earnings revisions are required for us to more proactively pitch the stock," they said.

Price: 46.45, Change: +0.04, Percent Change: +0.09