TD Cowen lowered the firm’s price target on Jack in the Box (JACK) to $31 from $40 and keeps a Buy rating on the shares. The firm said they are waiting on greater clarity of its turnaround but are encouraged by the likely divestiture of Del Taco to streamline management focus, while the closure of 150-200 incremental stores represents a difficult but overdue move to improve brand and franchisee health.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on JACK:
- Jack in the Box upgraded to Buy from Hold at Stifel
- Jack In The Box: Strategic Initiatives Amidst Financial Challenges Justify Hold Rating
- Jack in the Box price target lowered to $30 from $45 at RBC Capital
- Closing Bell Movers: Robert Half down 15% after earnings miss
- Jack in the Box down 6% at $24 after resumption of trade