Gilford Securities Upgrades J. C. Penney (JCP) to Buy; Considerable Appreciation Potential
Tweet Send to a FriendGet Alerts JCP Hot Sheet
Price: $19.18 -1.08%
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
5 Buy, 13 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade JCP Now!
Gilford Securities upgraded J. C. Penney (NYSE: JCP) from Hold to Buy.
Gilford analyst says, "With earnings far below pre-recession levels, Penney is doing poorly relative to retailers whose profits have rebounded robustly. JCP’s
catch-up phase may have begun. Management forecasts EPS of over $5.00 by 2014, versus 2007’s high of $4.90. We think $5.50-$6.00 may be attainable given an expanding economy...Same-store sales rose 5.7% for Nov./Dec. combined. This suggests 4Q/10 profits will be better than $0.90-$1.00 guidance and the Street’s range of $0.90-$1.02. We estimate $1.06 versus $0.83 a year ago and $2.09 in 4Q/06."
For more ratings news on J. C. Penney click here and for the rating history of J. C. Penney click here.
Shares of J. C. Penney closed at $32.90 yesterday, with a 52 week range of $19.42-$35.12.
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
Gilford analyst says, "With earnings far below pre-recession levels, Penney is doing poorly relative to retailers whose profits have rebounded robustly. JCP’s
catch-up phase may have begun. Management forecasts EPS of over $5.00 by 2014, versus 2007’s high of $4.90. We think $5.50-$6.00 may be attainable given an expanding economy...Same-store sales rose 5.7% for Nov./Dec. combined. This suggests 4Q/10 profits will be better than $0.90-$1.00 guidance and the Street’s range of $0.90-$1.02. We estimate $1.06 versus $0.83 a year ago and $2.09 in 4Q/06."
For more ratings news on J. C. Penney click here and for the rating history of J. C. Penney click here.
Shares of J. C. Penney closed at $32.90 yesterday, with a 52 week range of $19.42-$35.12.
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
- UPDATE: A.G. Lafley Gives Procter & Gamble (PG) Investors 'New Hope', UBS Upgrades to Buy
- Wedbush Upgrades Pacific Sunwear of California (PSUN) to Neutral
- Hewlett-Packard Company (HPQ) Tops Q2 EPS by 6c as Sales Slide 10%
Create E-mail Alert Related Categories
UpgradesRelated Entities
Earnings
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!
