12:12 PM EDT, 05/16/2024 (MT Newswires) -- Jack in the Box (JACK) was rated "outperform" by RBC Capital Markets, with analysts saying in a note on Thursday that growth prospects were attractively priced.

Positive factors contributing to the outlook include encouraging performance in new markets and new menu items are driving same-store sales growth, the firm said. "We believe multiple menu initiatives could drive a reacceleration in [same-store sales] with early evidence of positive results," RBC said.

The fast-food chain is attractively valued, currently trading at 22% below its 5-year average, RBC said.

"In terms of risks, the company has several initiatives in the pipeline which carry execution challenges, and the potential of a slowing consumer could always limit [same-store sales] reacceleration to some degree," RBC said, adding that these risks were largely factored into the company's current stock price.

RBC has a price target of $75 on the stock

Shares of Jack in the Box were recently 2.1% higher at $54.51.

Price: 54.54, Change: +1.13, Percent Change: +2.12