J.Jill price target lowered to $40 from $44 at Jefferies

Jefferies lowered the firm’s price target on J.Jill to $40 from $44 and keeps a Buy rating on the shares. Q2 performance was “solid,” with revenue and margin results “fairly healthy,” but a meaningful shift in consumer spending habits beginning in July that is continuing quarter-to-date led to a softer Q3 outlook and fiscal year guidance being lowered, the analyst tells investors. Though the company will be navigating a more difficult environment in the second half, the firm believes managment is “taking the right steps to manage performance and drive profitable growth,” the analyst added.