Jack in the Box downgraded to Neutral from Outperform at Wedbush

Wedbush analyst Nick Setyan downgraded Jack in the Box to Neutral from Outperform with a price target of $75, down from $100. The analyst views Jack in the Box’s current valuation as a reflection of a relatively less favorable value offering at JIB, ongoing uncertainty regarding Del Taco’s refranchising path/its potential impact on estimates, and relatively less visibility into margin trends. He also sees little in the way of catalysts to maintain an Outperform rating.