Deutsche Bank Upgrades J. C. Penney (JCP) to Hold; Tough Road Ahead...But Radical Changes Necessary
Tweet Send to a FriendGet Alerts JCP Hot Sheet
Price: $19.10 +2.03%
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade JCP Now!
Deutsche Bank upgraded J. C. Penney (NYSE: JCP) to Hold with a new price target of $32.00.
Deutsche analyst says, "Watching KSS has taught us the industry's hi-low promotional strategy may have hit a ceiling. In other words, today's shopper is more savvy than ever and retailers need to transform in order to compete more effectively - potentially discarding old habits to drive traffic. With this in mind, JCP's move to EDLP is intriguing to us and if Ron Johnson can successfully make the change, we think others in the industry could follow. Importantly, we still think the duration to turn JCP around is a 2014/2015 event, but prefer to watch from the sidelines."
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 $34.96 yesterday, with a 52 week range of $23.44-$41.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Deutsche analyst says, "Watching KSS has taught us the industry's hi-low promotional strategy may have hit a ceiling. In other words, today's shopper is more savvy than ever and retailers need to transform in order to compete more effectively - potentially discarding old habits to drive traffic. With this in mind, JCP's move to EDLP is intriguing to us and if Ron Johnson can successfully make the change, we think others in the industry could follow. Importantly, we still think the duration to turn JCP around is a 2014/2015 event, but prefer to watch from the sidelines."
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 $34.96 yesterday, with a 52 week range of $23.44-$41.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J. C. Penney (JCP) Enters $2.25B Secured Term Loan Facility
- J.C. Penney (JCP) to Reduce Rate on $2.25B Term Loan - Bloomberg
- Moody's Sees No Impact on JCPenney (JCP) Rating from $500M Term Loan Increase
Create E-mail Alert Related Categories
UpgradesRelated Entities
Deutsche Bank
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
