Morgan Stanley Sees Further Downside in J. C. Penney (JCP)

February 12, 2013 10:59 AM EST Send to a Friend
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Price: $6.59 -3.09%

Rating Summary:
    5 Buy, 12 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Shares of J. C. Penney (NYSE: JCP) are lower Tuesday following cautious comments from analysts at Morgan Stanley. The firm reiterated its Underweight rating and $15 price target and said they see further downside risk to the Street's FY13 sales and margin expectations.

The firm sees continued multiple compression driven by: i) market share losses, ii) lower quality EPS composition, iii) reduced earnings growth expectations, and iv) cash flow concerns.

The next catalyst for the stock will be 4Q earnings.

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 are down 1.4 to $19.25.


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