Barclays Maintains an 'Equalweight' on J. C. Penney (JCP); Slashing PT on Disappointing Results
Get Alerts JCP Hot Sheet
Price: $0.18 --0%
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Barclays maintains an 'Equalweight' on J. C. Penney (NYSE: JCP) price target cut from $45 to $30.
Analyst, Robert S. Drbul, said, "We believe the stock is currently pricing in the company's planned SG&A cost savings and that incremental upside will come from the execution of its new retail strategy, which we expect to remain challenged in the near term as J.C. Penney continues to work to re-educate the consumer about its new pricing strategy...We expect full year 2012 gross margin to be roughly flat with last year at 36.0% with a significant benefit to 4Q compares."
Barclays lowers FY13 EPS estimate from $2.65 to $2.35.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $26.46 yesterday.
Analyst, Robert S. Drbul, said, "We believe the stock is currently pricing in the company's planned SG&A cost savings and that incremental upside will come from the execution of its new retail strategy, which we expect to remain challenged in the near term as J.C. Penney continues to work to re-educate the consumer about its new pricing strategy...We expect full year 2012 gross margin to be roughly flat with last year at 36.0% with a significant benefit to 4Q compares."
Barclays lowers FY13 EPS estimate from $2.65 to $2.35.
For an analyst ratings summary and ratings history on J. C. Penney click here. For more ratings news on J. C. Penney click here.
Shares of J. C. Penney closed at $26.46 yesterday.
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