J. C. Penney (JCP) $1.75B Loan Improves Liquidity; Large Drag on FCF

April 29, 2013 11:37 AM EDT
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Price: $6.85 +2.39%

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This morning J. C. Penney (NYSE: JCP) confirmed it secured a $1.75 billion term loan from Goldman. Piper Analyst Alex Fuhrman thinks the loan resolves liquidity concerns for at least 2-3 years. However, incremental interest is likely to be a large drag on free-cash-flow.

Piper Jaffray has a Neutral rating on J. C. Penney with a price target of $14.00

For an analyst ratings summary and ratings history on J. C. Penney (NYSE: JCP) click here. For more ratings news on J. C. Penney click here.

Shares of J. C. Penney closed at $17.00 yesterday.

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