As previously reported, Guggenheim downgraded Jack in the Box to Neutral from Buy with no price target. Sales have been pressured due to several \"strategic mistakes,\" including multiple attempts at breaking into the Mexican quick service category, chronic underinvestment in physical assets and a push to add stores in markets far from its core, the analyst tells investors. In addition, Jack needs to refinance about $650M of debt over the next nine months and strictly replacing the debt would pressure annual EPS by about $1 per share, the analyst added.
