Jack in the Box price target lowered to $31 from $40 at TD Cowen

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.