J.C. Penney (JCP): Notes From Investor Day - Jefferies
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Jefferies analyst, Randall Konik, reiterated his Hold rating on shares of J. C. Penney (NYSE: JCP) after management laid out initial FY’20 targets that speak to a shift in focus from safety and stabilization to growth and profitability. Through various strategic initiatives, JCP seems on its way to recovering lost sales volume and restoring margins. However, the analyst keeps his rating at Hold due to the inherent risks in the turn and a valuation that seems fair based on today's numbers.
No change to the price target of $10.00.
Shares of J. C. Penney closed at $10.75 yesterday.
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