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Rare J. C. Penney (JCP) Bull Raises Price Target Post Q4

February 27, 2015 10:48 AM EST
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: 9 | Down: 7 | New: 41
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Whilte J. C. Penney (NYSE: JCP) is getting trashed across Wall Street (-8.5%), following fourth quarter results, one bull, Neely J.N. Tamminga at Piper Jaffray, is sticking with her bullish tone. In fact, the analyst boosted her price target to $14 from $12 following the news.

Tamminga commented, "In what is amounting to continued progress in turning around the business as they recapture a third of the $6B in lost sales over the past few years, JCP shares continue to present a unique opportunity for upside. Sentiment is negative yet "comps" are besting their peers as JCP takes back once-lost share--even with significant headwinds in clearance activity (a drag on pricing). Margins are respectable and guidance is conservative, in our view: for every 100bps of GM% expansion, JCP could generate $125M in EBITDA on top of our $575M estimate."

The firm reiterated an Overweight rating. FY 2016 EPS was lowered from ($1.02) to ($1.49) and FY 2017 EPS from ($0.15) to )$0.71).

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 $9.12 yesterday.



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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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Piper Jaffray, Neely Tamminga