Nomura Securities Maintains a 'Neutral' on J.C. Penney (JCP); All About Timing
Tweet
Share
E-mailGet Alerts JCP Hot Sheet
Price: $0.18 --0%
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
1 Buy, 21 Hold, 11 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Join SI Premium – FREE
Nomura Securities maintains a 'Neutral' on J.C. Penney (NYSE: JCP) price target lowered from $40 to $30.
Analyst, Paul Lejuez, said, "We haven’t changed our minds yet, staying at Neutral. There is a lot that we like about the vision and long-term strategy, but the timing does not seem right to step up and buy. The strategy is going to take some time and will test some investors’ patience. Based on the 1Q results and a reduction in our comp and GM forecasts for the remainder of the year, we are lowering our F12E EPS from $1.45 to ($0.18). We are lowering our F13E EPS from $2.27 to $1.76."
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 $26.75 yesterday.
Analyst, Paul Lejuez, said, "We haven’t changed our minds yet, staying at Neutral. There is a lot that we like about the vision and long-term strategy, but the timing does not seem right to step up and buy. The strategy is going to take some time and will test some investors’ patience. Based on the 1Q results and a reduction in our comp and GM forecasts for the remainder of the year, we are lowering our F12E EPS from $1.45 to ($0.18). We are lowering our F13E EPS from $2.27 to $1.76."
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 $26.75 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Upgrades PrimeEnergy Resource (PNRG) to Hold
- Treasury Wine Estates Ltd. (TWE:AU) (TSRYY) PT Raised to AUD6.95 at Citi
- Nintendo Co Ltd. (7974:JP) (NTDOY) PT Raised to JPY9,800 at Citi
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
NomuraSign 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!
