UPDATE: Wedbush Upgrades Jack in the Box; Raises PT

According to a research report published this morning, Wedbush has upgraded Jack in the Box

from Underperform to Neutral, and raised PT from $21 to $25. In the report, Wedbush said, "We are raising JACK to NEUTRAL from UNDERPERFORM. We believe JACK is positioned to benefit from a recent easing in industry-wide price-centric competition, as well as easing commodity costs in the near term. We believe JACK's current valuation properly reflects improved JIB profitability, as well as continued Qdoba underperformance." Jack in the Box closed Friday at $24.87.