Markets & Finance

Credit Suisse Cuts Jackson Hewitt Tax Service to Neutral

From Standard & Poor's Equity Research

Credit Suisse downgraded Jackson Hewitt Tax Service (JTX) to neutral from outperform, noting factors such as increased risk related to refund anticipation loan (RAL) legislation.

Analyst Paul Bartolai also expects the company's competitors to try and win back lost customers. With the shares trading 8% within his prior $38 target, at yesterday's close, Bartolai doesn't see compelling risk/reward in the investment.

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