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Fly News Breaks for April 19, 2016
JACK
Apr 19, 2016 | 07:22 EDT
Cowen analyst Timothy Arcuri initiated Jack in the Box with an Outperform and $83 price target on shares. The analyst believes investors overreacted to soft Q1/early Q2 results and views the slowdown as addressable by this "impressive" management team. Arcuri said Jack is using an upgraded core menu of product in bundled promotions with sharpened price points to emphasize value and views the company as a key beneficiary of improving lower income consumer theme.
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